is trading $SUI

at $2.95 after a 9% increase.

Trading volume has increased by more than 81% in the past 24 hours.

The cryptocurrency market opened today with green candles across the board, stabilizing its market value at $3.36 trillion after a 2.75% increase. With this rise, major assets like Bitcoin and Ethereum have regained their recent highs. Among altcoins, $SUI followed suit with a jump exceeding 9.59% in the past 24 hours.

This price increase has led to new record levels, also helping to renew market sentiment and boost the targeted price movement towards the $5 level. In the early hours of trading, $SUI was traded at its lowest at $2.70. Later, with this rise, the asset broke through critical resistance levels between $2.74 and $2.92, reaching a peak of $2.96.

According to CoinMarketCap data, SUI is currently trading at $2.95, with a market capitalization of $10.21 billion. Meanwhile, the daily trading volume of the coin has increased by over 81.28%, reaching $1.08 billion. Furthermore, the market #SUI has seen a liquidation of $3.39 million in the last 24 hours.

Can SUI continue its rise from here?

The technical analysis of the SUI coin chart shows that the moving average convergence divergence (MACD) has crossed above the signal line. This highlights active bullish pressure, with the potential for the asset's price to continue rising. The Chaikin Money Flow (CMF) index is stabilizing at 0.07, indicating a flow of money into the asset and a slight buying pressure in the market.

With the continued bullish strength, SUI's price has enough room for further increases. It may face immediate resistance above the $2.94 range. Assuming a breakout above this level, it is likely to target the $3 level or more, which represents a critical floor for SUI's price.

However, if the bullish correction of the asset weakens, the price may retrace and retest the nearby support level #SUIUSDT at $2.83. A breakout below this range generally indicates a potential continuation of bearish momentum, and the price may drop below $2.77.

Furthermore, the daily relative strength index (RSI) for the altcoin is at 62.27, indicating bullish momentum in the market. The market may gradually enter the overbought territory. The bullish and bearish power indicator (BBP) value for SUI stock, at 0.1429, indicates a current dominance of bulls, which usually supports short-term price movement. #REX-OSPREYSolanaETF #BTCReclaims110K #DYMBinanceHODL