Sui Price Rises by 12% in the Last 24 Hours
The price of Sui has increased by 12% over the last 24 hours, bringing it to $1.42 and experiencing a 27% drop in trading volume.
Sui Price Breaks Above The Rising Channel
Sui’s price has shown a recovering trend after a long decline, as the bulls have sparked a buying spree at the $0.37 support level, leading to the formation of an upward channel.
Despite a slight pullback at $0.98 resistance, the bulls have remained resilient, pushing the price above the channel, surpassing the May 2023 high, and reaching a new high at $1.47.
Currently, the price trades above the 50-day and 200-day simple moving averages (SMAs) and the Relative Strength Index (RSI) is also bullish.
Sui Price Bulls Aim For New Highs
The Sui price maintains a bullish stance, with the potential for new highs by the end of January.
There’s a risk of a sell-off to the protective support zone at $0.092 if bears intervene. Investors can also consider exploring the Launchpad XYZ token, which is set to unveil the secrets of Web3 crypto trading.
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