- With a 9% gain, SUI is holding steady around $3.93.
- Its 24-hour volume has surged by over 77%.
The crypto market’s recovery attempts have ended up with a solid jump of over 5.43% in the market cap, reaching $3.22 trillion. Notably, the broader market sentiment is greed, with the Fear and Greed Index holding at 70. Following the suit, SUI posts a 9.21% gain within the last 24 hours.
As the downturn fades, with renewed sturdiness, a sustained bullish price action could fix the recent losses, pushing it to step into positive territory. The asset kicked off the day trading at the bottom range of $3.58. After the bullish shift, the price has ascended toward $4.08.
At press time, SUI traded within the $3.93 level, with its trading volume increased by over 77.47%, reaching $3.08 billion. Moreover, the altcoin has witnessed a 24-hour liquidation of $14.80 million, as per Coinglass data.
Can SUI Maintain Its Bullish Momentum?
SUI’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line. This implies a strong bullish crossover and will likely trigger a potential upside correction if the asset’s price gains upward strength.
The Chaikin Money Flow (CMF) indicator reached 0.14, which hints at strong buying pressure, and the money is flowing into the asset. With the support of volume and a cautious bullish signal, it initiates a continued uptrend.
The asset’s active upside correction could push the price to the $4 mark. Assuming SUI blasts past this level, it might initiate a golden cross and send the price to $4.13. Further gains build a steady momentum in the price trajectory.
If SUI’s bullish wave runs out of strength, the price could fall and test the $3.72 support. The formation of a death cross might initiate a steady decline toward the $3.50 range. It likely acts as a make-or-break point for the asset’s price.
In addition, the Bull Bear Power (BBP) value at 0.3311 indicates that bulls are in control of the market. SUI’s daily Relative Strength Index (RSI) staying at 65.42 suggests that the asset is in the neutral to slightly overbought territory.
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