Sui Skyrockets 7.28%: Is the $8.00 Price Target Next?
Sui's bullish momentum just hit another gear—blasting past resistance with a 7.28% surge. Traders are now eyeing the $8.00 mark like Wall Street eyes a bailout.
Can the rally hold? Here's the breakdown.
The Technical Pulse
No fluff—just charts screaming green. Sui's uptrend isn't just alive; it's kicking down doors. Volume spikes suggest this isn't just retail FOMO (though let's be honest—it never hurts).
The Cynical Take
Another day, another crypto pumping while traditional finance scrambles to keep up. Sui's rise? A reminder that decentralized doesn't mean 'patient.'
Bottom line: Buckle up. This train's moving—whether you're on board or not.
- Sui hits $4.04, gaining 7.28% in 24 hours, with trading volume rising to $13.98 billion.
- Breaking $4.20 resistance could push Sui to $5.30, $6.50, or even $8.00 in the coming days.
- RSI at 63.86 and MACD bullish crossover suggest strong momentum for Sui’s upward trend.
Sui has gathered momentum, trading at $4.04. In the past 24 hours, the coin increased by 7.28%, and its trading volume also increased by 7.28% to $13.98 billion. sui has gained 7.03% over the last seven days, indicating the rising popularity and belief among both traders and investors.
Source: CoinMarketCap
Sui Breaks Key Resistance
Jonathan Carter has highlighted that SUI has broken above a symmetrical triangle pattern. This breakout is one of the main indicators of technical trading that is likely to be reversed. More importantly, the price retested the old resistance as a new support level, which is generally a good indicator of further upside gains.
According to Carter, Sui has a possibility of rallying beyond its resistance level of $4.20, a MOVE that may bring a very powerful surge in price. He predicts that they are going to reach the price targets of $5.30, $6.50, and possibly reach $8.00 should the upward trend continue. These targets are significant profits beyond its existing price and this is a pointer to possibly greater growth.
Source: X
Jireon revealed that Sui is testing a critical resistance zone. The coin had a strong reaction towards its support level. Nonetheless, Jireon added that a clean weekly close above $4 with healthy volume WOULD be needed to prove the strength of the trend. The close above this amount would mark the staying power of this bullish trend.
Source: X
The Relative Strength Index (RSI) is at 63.86, which indicates a healthy value for an asset that is on an uptrend. It is neither in the overbought region, but it indicates a capacity to move further in price. The Moving Average Convergence Divergence (MACD) is also positive at 0.0019, and the MACD line has crossed above signal line. This bullish crossover is a sign of powerful upward momentum.
Source: TradingView
Bullish Market Sentiment
According to CoinGlass data, the trading volume has increased by 7.24% to reach $5.78 billion. The open interest has further risen by 13.10% to reach $2.11 billion, which may indicate the growing interest in the token. The OI-Weighted Funding Rate is 0.0142%, which means that participants in the market are still bullish on the future of the coin.
Source: CoinGlass
The increasing price of the token would probably gain more attention in the market. A break of the $4.20 resistance might result in bigger price swings of the coin. Positive technical indicators, coupled with growing volume and market sentiment, offer the token the additional scope to grow in the weeks ahead.
