$SUI Price Analysis: Eyeing $1.5 and Beyond - CoinGape Analytics
Sui (SUI) has gained 15% this week, fueled by the Mysticeti Consensus Protocol’s integration and the launch of Grayscale’s Sui Trust. The protocol's upgrade slashes consensus time to 390 milliseconds, boosting transaction speeds.
Currently at $1.13, SUI surged 11.39% in the past 24 hours. Trading volume increased by 70.35%, indicating rising market interest. With a market cap of over $3 billion, Sui ranks 28th in the crypto market, reflecting strong investor confidence.
Technical indicators are positive. The MACD shows a bullish trend, and recent trading volume surged by 105.59% to $1.71 billion. Open interest grew by 16.72% to $296.60 million, highlighting robust market participation.
Sui faces resistance at $1.5. If the bullish trend continues, it could climb to $2.00 and potentially revisit its all-time high of $2.18 from March 2024, marking a near 96% increase from its current price.
