Current status of the SUI coin:
• Current price: According to updated data, the SUI coin is currently trading at around $4.03, with a trading volume over the past 24 hours of approximately $1.75 billion.
• Market capitalization: The market capitalization of the SUI coin is approximately $13.94 billion, making it the 13th largest cryptocurrency.
• Recent performance:
◦ The SUI price increased by 2.34% over the past 24 hours.
◦ Over the past week, it recorded a rise of 32.07%.
◦ Over the past year, the price has risen by 405.06%, reflecting strong momentum.
• Technical indicators:
◦ The relative strength index (RSI) on the 14-day timeframe indicates that the coin may be in the overbought zone at a value of 74.49, which could signal a potential short-term correction.
◦ Moving averages (MA) indicate a long-term upward trend, with potential support at the $3.70 level.
• Fundamental developments:
◦ The SUI network has seen significant growth in total value locked (TVL), surpassing $2 billion, reflecting increased activity in decentralized applications (DeFi) on the network.
◦ There are new projects like SuiPlay 0X1 (gaming device) that may boost demand for the coin in the future.
Trading recommendations for the near days:
1 General trend: The current trend for the SUI coin is upward, supported by strong market momentum and network developments. However, caution should be exercised due to potential overbought conditions.
2 Entry and exit points:
◦ Entry points:
▪ If a short-term correction occurs, support levels at $3.80 or $3.70 could be good buying opportunities.
▪ If the upward momentum continues, consider entering at a breakout above resistance at $4.10, with volume confirmation.
◦ Exit points:
▪ First target: $4.40, which is a potential resistance level.
▪ Second target: $5.35 (previous historical peak in January 2025).
▪ In case of a correction, set a stop loss at $3.45 to reduce risks.
3 Trading strategies:
◦ Short-term trading (Scalping/Day Trading): Target small movements between $3.90 and $4.10 while monitoring trading volume and technical indicators like RSI and MACD.
◦ Medium-term trading (Swing Trading): Wait for a breakout above resistance at $4.10 or a pullback to support at $3.70 to enter, targeting profits at $4.40 or higher.
◦ Long-term holding (HODL): If you believe in the future of the SUI network (especially with projects like SuiPlay and DeFi expansion), the coin can be held with an expectation of rising to $5.62 or more by the end of 2025.
4 Risk management:
◦ Due to the volatility of the cryptocurrency market, it is advised to always use a stop loss.
◦ Do not invest more than 1-2% of capital in a single trade to reduce risks.
◦ Keep an eye on news related to the SUI network, such as new partnerships or technical updates, as they can impact the price.
5 Market analysis:
◦ Market sentiment is currently positive, driven by the overall market capitalization of cryptocurrencies (exceeding $3.05 trillion) and increased liquidity in the SUI network.
◦ However, be mindful of any potential corrections in the general market, especially if Bitcoin (BTC) or Ethereum (ETH) declines.
Important notes:
• The cryptocurrency market is highly volatile, so independent research and consulting a financial advisor should be conducted before making investment decisions.
• Monitor platforms like Binance, Coinbase, and Bybit for the latest data and trading volumes.
• Follow posts on the X platform for instant updates on market sentiment, keeping in mind that they may contain unverified information.
Summary: The SUI coin shows strong upward momentum with fundamental support from network developments. In the near days, it is advised to monitor the mentioned support and resistance levels, while using strict risk management. If you are considering investing, make sure to balance the risks and potential gains based on your financial goals.