Today September 7th SUI Price Analysis – SUI Technical Analysis

adminSeptember 8, 2024

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SUI (SUI) has shown strength against market volatility with its recent surge. This positive trend was driven by important network updates, the introduction of Grayscale SUI Trust, and large OTC purchases, which increased investor confidence. As a result, the cryptocurrency has seen a strong surge despite the widespread market difficulties.

SUI Key Statistics

Current price: $0.864
Market Cap: $2.32 billion
Trading volume (24 hours): $377.39 million
Circulating supply: 2.68 billion SUI
Total supply: 10 billion
CoinMarketCap Rank: #31

Over the past 30 days, the value of Sui has fallen by 22.31% from its peak, and by 2.23% over the past 7 days. However, from its lowest price over the same period, the cryptocurrency has shown its ability to bounce back quickly, surging by 43.68% last month and 16.14% last week.

SUI/USD Market Analysis

Main level:

resistance: $0.880, $0.900, $1.00

Support: $0.858, $0.707, $0.600

Today September 7th SUI Price Analysis – SUI Technical Analysis — SUIUSD – Daily Chart

SUI/USD is currently testing the $0.858 support level, with the price hovering near the middle Bollinger Band, indicating potential bullish momentum. The MACD line is close to crossing above the signal line, which could strengthen the uptrend if confirmed. If the price holds above $0.858, it is likely to challenge the resistance levels of $0.880 and $0.900. A break above these levels could see the price move towards the psychological level of $1.00.

Can SUI maintain its rally after its 50% surge in August?

After Bitcoin’s drop to $55,000, there were few cryptocurrencies that showed positive numbers, and SUI was one of them. Throughout August, the cryptocurrency was the best performer, experiencing a remarkable 50% surge despite the broader market downturn. This resilience was driven by several factors, including network upgrades, significant OTC (Over-The-Counter) buying, and solid holder support during a major unlock event.

Sui, success in the cryptocurrency ecosystem

Additionally, leading crypto asset manager Grayscale has launched the Grayscale SUI Trust, further adding to the bullish momentum of the cryptocurrency. This positive trend has pushed the coin price up to levels it has not reached since mid-June. If the coin can hold above the crucial $0.858 support, it could continue its march towards higher resistance levels.

SUI/BTC Performance Insights

In the SUI/BTC pair, Sui is currently trading at 0.00001586 BTC and is facing resistance near 0.00001620 BTC. The pair is located near the middle Bollinger Band, indicating a neutral stance in the market. The MACD suggests a slight bullish potential, with the price likely to test the resistance at 0.00001620 BTC. A breakout here could push the price up to 0.00001744 BTC, and if it fails, it could retest the support near 0.00001267 BTC.

In a tweet from X (formerly Twitter), @InsightsH2P highlights Sui Network’s innovative approach to using radio waves for cryptocurrency transactions, bypassing traditional internet-based challenges like network congestion. He notes that Grayscale recently established a trust fund for Sui Network, significantly increasing the value of its tokens, suggesting that the network is a notable blockchain to watch.

$Sui The Road to Becoming the World’s Most Special Blockchain 💥💥💥@Suinetworks We are testing a way to use radio waves to conduct cryptocurrency transactions without having to connect to the internet.
Overcoming the almost sole weakness of the blockchain industry and gradually separating… pic.twitter.com/vdASMPaNoJ
— H2P Insights (@InsightsH2P) September 6, 2024

Sui’s alternative

SUI has been gaining ground in the crypto market with recent growth due to network upgrades, Grayscale Trust, and significant OTC bids, which has strengthened investor confidence despite market volatility. At the same time, Pepe Unchained ($PEPU) is emerging as a notable contender as it raises $12.3 million in its presale and prepares for its primary DEX launch. The presale is open to all investors.

The highlight of the project is the Pepe Chain, which aims to solve common problems in the meme coin sector by offering faster transaction speeds and lower fees, and is compatible with Ethereum. It also includes a staking protocol that allows $PEPU holders to lock their tokens for rewards, with an expected annual yield of 177%. Currently, over 902 million $PEPU are staked.

PEPE UNCHAINED Raises $12 Million – Starts Massive Buyout

Early investors can purchase $PEPU tokens during the pre-sale period at $0.0095743, and strong growth is expected as the project moves to its next funding milestone. With a vibrant community of over 13,000 followers, Pepe Unchained is gaining momentum.

As this project progresses, it presents an attractive opportunity for those looking to profit from the next wave of meme coin investments.

Visit Pepe Unchained