The post SUI Price Hits New All-Time High Amid 69% Weekly Surge appeared on BitcoinEthereumNews.com.

SUI price has just reached a new all-time high, climbing more than 69% in the last seven days. The recent surge is backed by strong technical indicators, including bullish EMA lines and a recovering BBTrend. With Total Value Locked (TVL) also hitting new records, SUI shows signs of solid investor interest and usage growth. SUI TVL Reached A New All-Time High SUI’s Total Value Locked (TVL) has just reached an all-time high of $1.36 billion, showing a significant increase in investor confidence and usage of the chain. SUI TVL. Source: DeFiLlama Total Value Locked (TVL) represents the total amount of assets staked or locked in a blockchain’s smart contracts. It is a crucial metric that measures a platform’s health and adoption, as higher TVL indicates more user engagement and confidence in the platform’s security and potential. SUI first reached $1 billion in TVL on September 30, and since then, its growth has stabilized. After a period of consolidation, it appears to be ready to reach new highs, as it has been doing in the last few days. SUI BBTrend Is Recovering SUI’s BBTrend has remained positive for three consecutive days, during which its price has surged by 37%. This consistent positive trend indicates that bullish momentum has been building up steadily, supporting the recent price growth. The BBTrend’s ability to stay positive during this period suggests that strong buying interest is driving SUI’s upward movement. SUI BBTrend. Source: TradingView BBTrend, or Bollinger Band Trend, is a momentum indicator used to assess the direction and strength of an asset’s price movement relative to its Bollinger Bands. A positive BBTrend value indicates that the price is gaining upward strength, while a negative value suggests a downtrend. On November 10, SUI’s BBTrend peaked at 19.17 before experiencing some hours of decline. However, the…

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Filed under: News - @ November 12, 2024 5:19 am