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SUI recently hit an all-time high (ATH) of $5.36 before experiencing a 10% correction, bringing its price down to $4.49. Despite this pullback, positive funding rates and bullish sentiment within the community signal potential for recovery and a new ATH. The Relative Strength Index (RSI) remaining above neutral levels further supports this optimistic outlook.
SUI Shows Signs of Recovery
After reaching its ATH, SUI corrected by 10%, dropping to $4.58, but has since stabilized around $4.49. The altcoin has maintained a positive funding rate for ten consecutive days, reflecting sustained market interest. Furthermore, the RSI staying above the neutral 50 mark indicates ongoing buyer activity and limits the risk of further declines. This positioning strengthens the possibility of SUI turning $4.79 into a support level and aiming to reclaim its ATH of $5.36.
Key Support Levels for SUI
SUI’s price declined by 7.4% over the last 24 hours, accompanied by a robust trading volume of $1.31 billion, highlighting strong market activity. With a circulating supply of 3 billion tokens—30% of its total supply—SUI’s market capitalization stands at $13.51 billion. The fully diluted valuation of $44.89 billion underscores SUI’s long-term growth potential.
If SUI’s price falls below $4.35, the bullish scenario may be invalidated, potentially leading to increased bearish pressure. Investors should monitor critical support and resistance levels closely to adapt to shifting market conditions.
What Lies Ahead for SUI?
The current price movements for SUI suggest a balanced outlook, with both bullish and bearish scenarios remaining possible. Factors such as overall market conditions and investor sentiment will play a pivotal role in determining the altcoin’s trajectory. Despite recent corrections, the positive funding rates and high trading volumes indicate potential for recovery.
Turkish NY Radio will continue to track SUI’s performance and provide timely updates for its readers.
