SUI Price Holds Above Crucial Support Level, Technical Indicators Display Positive Trends
Sui (SUI) price held its position above the crucial support level of $2.26. It remained within an ascending channel pattern during this period.
The price of Sui (SUI) has held crucial support levels and managed to stay within an ascending channel pattern. This analysis comes as a popular technical indicator used by traders displayed a positive trend.
Along with on-chain data revealing a whopping $73.85 Billion in stablecoin movements on the network and strong capital flows, the setup could open the door for more gains.
Here’s a closer look at the latest technical analysis and on-chain data for SUI.
SUI Crypto Price Analysis: Bollinger Band Indicator Shows Promise
On the 4-hour chart, the SUI crypto price traded at $2.2751, remaining above the key ascending channel support at $2.26.
This channel began influencing the SUI token days ago, with the lower boundary consistently triggering upward price movements. As long as SUI manages to stay above $2.26, it could continue pushing towards the $2.50 range.
This level has previously marked the peak of previous SUI price rallies. The upward momentum is still active as buyers managed to defend the $2.24–$2.26 zone.
However, a wider perspective across the 3-day timeframe displayed a potentially significant pattern. According to crypto analyst ZAYKCharts, SUI token has been moving within a falling wedge, a pattern that often signals an upcoming trend transformation.
SUI token previously broke out of this pattern design during mid-2023 and then again towards the end of that year. The price breakout events from these points led to substantial market rallies.
After escaping the wedge pattern twice, SUI price went up to $7.00, resulting in a 221% increase from its present market value.
Wedge patterns indicate reduced selling pressure and tighter price movements. These conditions usually lead to strong upward breakouts once volume provides validation.
On-Chain Activity Data
The attention this token has been receiving isn’t surprising given the activity on-chain.
Torero_Romero notes that SUI’s transfer volume surpassed TON, reaching $73.85 Billion, while TON’s transfer volume remained at $49.46 Billion.
Stablecoin transactions indicate economic activity on the blockchain, used for payments, DeFi, and swaps.
SUI’s transaction volume has seen a dramatic increase recently. This rapid upward trend highlights that users and platforms prefer this token for fund transfers.
Compared to TON, which leverages Telegram’s vast community and influence, SUI’s network growth is even more evident.
Capital Inflows Into Network
SUI was among the top three chains for capital inflows in the past 24 hours, according to Artemis data, placing it just behind Base and OP Mainnet. This surge highlights growing interest and stability in SUI price.
The network’s inflow of funds outpaced its outflow, signaling increasing trust, liquidity, and network participation. In contrast, Ethereum experienced the biggest outflow of funds.
This shift might be due to users seeking more efficient and rapid systems, moving away from more expensive older networks.
Blockchain capital inflows drive network activity through various initiatives, such as new application launches, boosting user engagement and improving staking activity.
SUI’s recent price movement showcases these inflows fueling greater stablecoin volume and positive chart signals.
The above is the detailed content of SUI Price Holds Above Crucial Support Level, Technical Indicators Display Positive Trends. For more information, please follow other related articles on the PHP Chinese website!

Bitcoin is now trading above the $94,000 level, showing strong momentum after a sharp recovery from recent lows.

Bitcoin is now trading above the $94,000 level, showing strong momentum after a sharp recovery from recent lows.

The cryptocurrency market offers numerous investment opportunities, with Dogecoin (DOGE) and Shiba Inu (SHIB) being popular options among meme coins.

Bitcoin's trajectory has captured the imagination of investors, with ARK Invest's latest research update painting a transformative picture for the cryptocurrency's future.

Jed McCaleb's 2014 departure from Ripple sparked rumors, but was likely part of a strategy.

What if the next meme coin to make serious waves isn't trending yet, but hiding in the shadows of Telegram chats and crypto Twitter threads?

A clear underdog coming into the series thanks to injuries to Miro Heiskanen and Jason Robertson

The virtual currency market continues to display impressive recovery, with alternative cryptocurrencies gaining ground, driven by Bitcoin's recent resurgence.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

SublimeText3 English version
Recommended: Win version, supports code prompts!

PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool

SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

Notepad++7.3.1
Easy-to-use and free code editor

Atom editor mac version download
The most popular open source editor
