The post SUI Price Momentum Cools Off After Breaking Records appeared on BitcoinEthereumNews.com.

SUI price has been on a remarkable run, recently reaching a new all-time high and climbing nearly 74% in the past month. This surge reflects growing momentum for the asset, fueled by increasing adoption and market activity. Alongside price performance, SUI’s Total Value Locked (TVL) has also been breaking records, hitting $1.65 billion before slightly retracing. SUI TVL Is Breaking Records SUI Total Value Locked (TVL) has been making new highs, hitting an impressive $1.65 billion on November 15. However, it has slightly declined since then, stabilizing around $1.62 billion over the past few days. This shift shows a cooling period after the strong growth trajectory observed earlier in the month. SUI TVL. Source: DeFiLlama Tracking SUI’s TVL is critical as it reflects the platform’s ability to attract capital and maintain user trust. Since surpassing $900 million on October 28, SUI has consistently demonstrated its capacity to lock significant value, marking its first milestone of $1 billion in TVL on September 30. However, the recent dip in growth momentum may suggest a pause in this uptrend. SUI Current Uptrend Isn’t That Strong Anymore SUI’s Average Directional Index (ADX) has dropped significantly, currently sitting at 18, compared to over 30 just two days ago. This decline indicates that while SUI remains in an uptrend, the strength of this trend is weakening. A falling ADX often signals reduced momentum, suggesting that SUI’s recent price movements might lack the vigor seen earlier in the current rally. SUI ADX. Source: TradingView The ADX measures the strength of a trend, regardless of its direction, with key thresholds indicating different levels of momentum. Values below 20 suggest a weak or non-existent trend, while readings above 25 indicate a strong trend gaining traction. SUI ADX slipping below this threshold suggests the uptrend may be losing steam. If…

---

Filed under: News - @ November 20, 2024 5:27 pm