SUI Defies Gravity With 53% Rally—Here’s Why Traders Are Betting on More
Move over, legacy coins—SUI’s parabolic surge just turned it into the hottest ticket in crypto. The layer-1 blockchain token ripped past resistance levels like they were wet tissue paper this week, leaving bagholders of ’safe’ blue-chip assets grinding their teeth.
What’s fueling the frenzy? Developers are flocking to its Move-based ecosystem, while traders chase the next SOL-style breakout. Just don’t mention that 90% of recent gains could evaporate faster than a VC’s morals when the next Fed meeting hits.
SUI Faces Strong Selling Pressure at $3.6, But Could Keep Rising
Heading to the charts, we can see that SUI has encountered strong resistance at the $3.60 area already and the selling pressure has been quite high every time the price has tried to move above that area.
Momentum indicators were already heavily stretched, so the price will likely pull back from these levels. That is not necessarily a bad thin,g as it would open up the door for late buyers who bring in the necessary liquidity to keep the price going.
The most relevant technical signal up to this point was a bullish crossover between the 21-day and 200-day EMA. This move typically precedes a significant uptick in the price of an asset.
Guess what?
Hence, SUI’s outlook is quite strong and a pullback may offer bulls the chance to buy the token at a much more affordable price before the next leg up.
If SUI breaks above the $3.6 resistance, the next stop for SUI would be found at around $4.5, at which buyers’ commitment will likely be put to the test again.
As smart contract platforms like Sui and Solana compete to gain market share in this segment of the blockchain industry, projects like Solaxy (SOLX), a layer-two scaling protocol for Solana, have emerged as the most promising crypto presales of the year.
Solaxy (SOLX) Prepares to Wrap Up Its Presale with More than $30M Raised
Back in January, when TRUMP and MELANIA were launched, the Solana blockchain experienced delays in clearing transactions and delivered errors to both users and exchanges.
Solaxy (SOLX) fixes Solana’s congestion issues by bundling transactions offline in a side chain before sending them to the mainnet.
Recently,so investors can see how the protocol has advanced.
$SOLX is the utility token of the Solaxy L2 network. Once the protocol is embraced by exchanges and wallets, the demand for its native asset will likely rise.
In addition, this token offers attractive staking rewards to those willing to lock in their assets to secure the network.
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap USDT or SOL for this token or use a bank card to make your investment.
Buy Solaxy Here
The post Best Crypto to Buy Now: SUI Rises by 53% and Could Keep Going appeared first on icobench.com.
