Sui Token witnessed great fluctuations in prices over the past month, which reflects the most uncertainty in the market. Once about 3 dollars circulated, the symbol saw a sharp decrease to two dollars before the bounce.
Despite its fluctuations, $ SUI is still a strong competitor in the encryption space, with a circulating supply of 3.16 billion icons and total offer of 10 billion. Currently, the price hovers about $ 2.80, indicating signs of recovery amid uncertainty in the market.
The main development that gives optimism is SUI’s entry into ETF discussion. Canary Capital Group, a digital asset investment company, has applied for organizational approval to launch a fund on the Stock Exchange (ETF) associated with the immediate price of Sui.
This step can enhance the credibility of the distinctive symbol and attract institutional investors, and may lead more growth. Since the ETF file extends the list of new financial products related to encryption, it adds to the expectation surrounding SUI’s future price movements.
The market responded positively to this news, as the maximum $ 8 billion dollar market increased to 8.8 billion dollars, which represents an increase of 8 %. However, the broader market morale is still cautious.
The encryption sector is still moving in uncertainty, as many investors are waiting for a final shift in the direction. While the full altcoin season has not yet been achieved, historical trends indicate that it may reach the end of the year.
source – Jacob Checks burial on YouTube
Predicting price level for encryption
Looking at the SUI price, the previously distinguished code increased to $ 5.34 before suffering from a sharp correction, as it decreased by 48 %. $ $ Sui is currently trading about $ 2.78, and the main resistance level test at $ 2.95.
The collapse above this may push the price towards the psychological barrier of $ 3.00, with the possibility of more upward trend to $ 3.30 if the momentum continues. On the negative side, immediate support lies at $ 2.40, which was previously resistant, while the strongest support is about two dollars in the event of a deeper withdrawal.
Current technical indicators indicate a potential recovery, but a continuous gathering is likely to increase liquidity and the renewal of the investor’s enthusiasm.
In the weekly timetable, the RSI Index (RSI) explains that $ SUI was previously arrested, which led to its recent decline. Now, with the stability of RSI levels, the possibility of reflecting the direction becomes more logical.
conclusion
Beyond price analysis, the broader encryption market remains in the flow. Bitcoin continues to control the market cycle, as ETHEREUM holds about $ 2000. Mixed offers across the higher encrypted currencies reflect a period of frequency.
Although there is no clear trend in the market, long -term horizons for Blockchain technology and digital assets are optimistic. In general, recent developments related to ETF from ETF indicate an increase in institutional interest, but the long -term path of the distinctive symbol depends on market morale and broader economic conditions.
Despite the uncertainty, historical patterns indicate that the following main altcoin gathering can be on the horizon, making SUI a project to watch it closely in the coming months.
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