$SUI
š Current Price & Market Overview
$SUI is trading at approximately $3.83, reflecting a slight decrease of 0.79% over the past 24 hours. The 24-hour trading volume stands at $1.02 billion, with a market capitalization of $12.79 billion.
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š Technical Analysis Highlights
Bullish Breakout: $SUI recently broke out of a descending triangle pattern on the 1-hour chart, closing above $3.78. This breakout suggests potential upward movement towards $3.90, provided the $3.78 support holds.
Bearish Indicators: Conversely, a 4-hour chart analysis indicates a bearish rising wedge pattern. If SUI breaks below the red trendline support, it could signal a significant price decline.
Recent Liquidation Event: A substantial $279,000 long position was liquidated at $3.7339, indicating a strong rejection from recent highs and suggesting potential short-term volatility.
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š Ecosystem Developments
Binance has launched a $1.7 million SUI Ecosystem Trading Competition on its Binance Alpha platform, running from May 16 to May 30, 2025. Participants can earn rewards in various SUI-related tokens by achieving high trading volumes across selected pairs.
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š Price Forecast
Analysts project that SUI could reach between $7 and $10 by the end of 2025, contingent on market trends and adoption rates.#BinanceAlphaAlert