SUI Skyrockets 54% in Seven Days—Now Leading the Crypto Market Rally

Move over, Bitcoin—SUI just stole the spotlight with a blistering 54% weekly surge. The Layer 1 blockchain’s token is now outperforming major assets, sparking debates about whether this is sustainable growth or just another crypto pump waiting for a dump.

Market watchers are scrambling to explain the rally. Some point to Sui’s recent tech upgrades, while others whisper about coordinated trading groups. Meanwhile, Wall Street analysts are still trying to pronounce ’blockchain’ correctly.

One thing’s clear: in crypto, even dead cats bounce—but SUI’s current trajectory looks more like a rocket than a falling feline. Whether this marks a true recovery or just a temporary blip remains to be seen. After all, what goes up 54% in a week can often come down twice as fast.

SUI Could Retest Its $5 All-Time High if It Breaks Above This Level

SUI broke above its 21-day exponential moving average (EMA) a couple of days ago with strong volumes and also pushed through two key resistances along the way that probably unlocked significant buying volumes as they likely triggered a short squeeze.

The price has been on a 4-day winning streak with above-average volumes, meaning that buying interest has been quite strong for this altcoin.

The Relative Strength Index (RSI) has now reached overbought levels as it approaches a key resistance at $3.5 per token, where trading volumes have been quite strong.

as they enter a low-volume area where they will have a free pass to push the price higher and trigger a wave of FOMO among late buyers.

The combination of a strong EMA breakout with strong trading volumes and a strong surge above the point of control suggests that the bear market is over for SUI. This means that the token could keep rising in the next few months, possibly toward the $5 level again.

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The post Sui News: SUI Rises by 54% in the Past Week and Leads Recovery appeared first on icobench.com.