Tag: SUI

SUI Skyrockets 30%—Could $8 Be Next?

SUI’s on fire right now, shooting up 30.48% in just 24 hours and breaking past $5 for the first time. The crypto world is buzzing: could this be the start of SUI’s sprint to $8?

The charts are looking spicy—SUI smashed through the $4.20–$4.30 resistance zone, flipping it into solid support. Add to that some serious buying pressure and a steady climb along its ascending trendline, and you’ve got all the makings of a breakout.

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The surge has pumped its market cap to over $15.6 billion, with trading volume absolutely popping—up 179.53% to $2.28 billion in the last day. SUI’s cruising way above its 200-day EMA at $4.17, showing the bulls are in charge.

What’s Next for SUI?
SUI’s glow-up didn’t come out of nowhere. After hitting rock bottom at $0.70 last year, it’s been climbing steadily, dropping higher lows and breaking out of a downtrend earlier this year.

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While RSI is in overbought territory (chillin’ at 77), signaling a short-term cooldown, the MACD’s still screaming “we’re going up!” If SUI can hold strong around $4.2–$4.4, $6 might be the next stop. And if the hype keeps rolling? $8 could be just around the corner. 🚀

SUI Reaches Record High Amid Overextension Concerns

SUI’s rally is looking for one last stretch as RSI reported its being overbought quite much lately. Meaning the hype will sure chill out sooner than many would expect. Fibonacci math shows that it could reach highest which is expected to range around $3.77 to $4 before its eventual cooldown.

SUI is a native cryptocurrency of the SUI Blockchain. Its a layer 1 blockchain profoundly known for its high speed transactions and scalability. Its token SUI has been on a constant uphill ride. However, the rise is not so celebrated as experts assume its currently on its final wave of ascent and will quickly set down.

Relative Strength Index (RSI) which, as the name suggests, is a popular indicator in trading. It basically measures how much overbought or oversold is an asset and it measures it on a scale of 0 to100. This reliable source, RSI shows major overbought conditions in case of SUI which sharply signals a potential slowdown coming down inevitably. According to some indicators, the price is extremely overextended and the main question is how much it can go before reversing.

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SUI Price Forecast

As of November 11, the price of Sui’s token SUI is $3.29. It holds a 24 hour trading volume of about $2.9 billion. This price means it is still on its uphill ride as it has increased by 0.46% and considering past seven days it has seen a 46.63% price increase. There are total 2.8 billion SUI tokens circulating right now and they hold total market capitalization of about $9.3 billion.

Considering previous waves, this time the Fibonacci level suggests SUI might see its end after reaching  $3.77, but there’s still a slight chance it may go a bit longer and reach $4 dollars before it settles down for good.

ETH, SHIB, and SUI are the top cryptocurrencies to keep an eye on this week.

Synopsis

The primary cause of last week’s hopeful spike in the cryptocurrency market was the increase in Bitcoin following Trump’s election triumph. As Bitcoin got close to $80,000, altcoins like Ethereum (ETH), Shiba Inu (SHIB), and Sui (SUI) also reported significant gains, pushing the global cryptocurrency market value to a record high of $2.85 trillion. Below is a summary of the week’s best cryptocurrency performers and important levels to keep an eye on.

Ethereum Surges Past $3,000

Ethereum reclaimed multi-month highs, spiking to over $3,100 as it capitalized on the broader market rally. After a modest drop on Nov. 4, ETH rose 27.3% over the week, with its largest gains on Nov. 6 following Trump’s victory. The cryptocurrency remains in overbought territory, with a potential pullback to $2,981 if momentum stalls. Key resistance now lies at $3,396, while the Relative Strength Index (RSI) sits at a bullish 75.62.

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Shiba Inu Rallies 21%

Shiba Inu saw a 21% weekly increase, breaking past $0.00002 for the first time in nearly a month on Nov. 9. The MACD’s bullish crossover on Nov. 6 indicates strong momentum, although SHIB may face resistance at the June peak of $0.00002622. Support stands at the 23.6% Fibonacci level near $0.00002157.

SUI Claims New All-Time High

Sui, the native token of its layer-1 blockchain, reached a new all-time high of $3.14 after a 20% surge on Nov. 9. The asset maintains an upward trajectory, although its Stochastic Momentum Index at 79.1 signals overbought levels. Investors should watch for potential support at $2.75 if the asset faces a pullback.

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In conclusion, as the market is still showing bullish momentum from the previous week, investors should keep an eye on these crucial levels for any shifts in the trend or additional gains.

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