Can SUI Crypto Hit $10 As DEX Volume Hits 7th Consecutive ATH
The post Can SUI Crypto Hit $10 As DEX Volume Hits 7th Consecutive ATH appeared on BitcoinEthereumNews.com.
The series of charts for SUI/USDT crypto on different time frames showed a mix of bullish momentum with potential underlying instability from the weekly chart. The weekly timeframe for SUI has been bullish but showed signs of being overbought, leading to potential volatility. SUI’s key resistance levels were noticeable at $4.80, where if the daily candle closed above this price could significantly turn market sentiments bullish. This appearance of a clean bearish divergence on the RSI and a lack of buying pressure near the upper resistance suggested that a correction could be imminent. This suggested a medium-term view of potential downward correction before another upward movement could be established. Specifically, the $3.00 highlighted as a crucial support area for potential long entries, indicating a significant level where traders could look for bounce-back opportunities. – Advertisement – Source: X However, SUI’s price chart warns of a potential drop if prices fail to sustain above this support zone. In the shorter time frames, including the 4-hour and 30-minute charts, SUI navigated through significant fluctuations, possibly preparing for a further downtrend as indicated by narrowing channels and price struggling to maintain the bullish trend lines established in the previous sessions. This comprehensive view across various time frames prepared a breach above $4.80 for a bullish confirmation or a fall towards $3.00, hinting at a buying opportunity or further decline. In December, SUI showed resilience, outperforming its counterparts with a bullish close at 21% higher. TON, SOL, APT, and SEI, however, recorded losses of 15%, 17.75%, 31.74%, and 36.11% respectively, marking a bearish phase. SUI’s relative strength indicated potential for sustained growth, diverging positively from the broader market trend. SUI Crypto DEX Trading Volume at New ATHs December witnessed a new peak in monthly DEX trading volume, surpassing November’s $8,020,920,954 with a significant increase…
Filed under: News - @ December 30, 2024 7:26 am