- The trading volume of SUI crypto has witnessed a huge surge in volume.
- The SUI crypto trading price has advanced by 14.76% in the last 24 hours.
Sui is a decentralized blockchain that uses the Move language and an object-centric data model to enable fast and scalable asset management. It is powered by the SUI token, which is used for gas fees, staking, and governance. This platform is developed by Mysten Labs, a frontier tech company.
The trading volume of SUI crypto has advanced by 137% in the last 24 hours resulting in a traded volume of $541.683M. Also, the volume ranking of the crypto is 19th as per CoinMarketCap.
The market cap of the SUI crypto is $871.964M holding a ranking of 81st in the global cryptocurrency market. The following data leads to a volume/market cap ratio of 62.72%.
The circulating supply of the SUI crypto is 1.033 billion and the total supply of the crypto is 10.0 billion. Moreover, the fully diluted market cap of the SUI token is $8.428 billion.
SUI Crypto Derivatives Analysis
The trading derivative trading volume of the SUI token has witnessed a huge surge of 299% in the last 24 hours. It has resulted in a traded volume of $1.12 billion and the open interest has advanced by 17.0%. Moreover, the short liquidation of the token is $1.02 million and the long liquidation of the SUI is $752.40K.
SUI Technical Analysis
The SUI crypto price has been consistently trying to advance to higher levels leading to a rising wedge pattern. Its trading also volume has broken above the same. This behavior of the crypto price shows the buying sentiment in the crypto price.
The crypto price is currently forming a higher high swing on the daily charts which indicates that the trend of the SUI token is totally bullish and the price can lead to further higher levels.
SUI/USD Chart by TradingView
The 50-day and the 200-day EMAs are trading in a golden crossover. The Bollinger Band is also advancing to a higher level, leading the crypto price.
The RSI is trading at a level of 70.83 which represents a strong bullish momentum in the SUI token price. It also is trading above the 14-day SMA and is sustaining above the 50-level.
Conclusion
SUI crypto price is showing a strong bullish trend after breaking above a rising wedge pattern. It is the native token of Sui, a fast and scalable blockchain platform by Mysten Labs. The SUI crypto has high trading volume, market cap, and open interest, indicating high demand and potential.
Technical Levels
Support Levels: $0.500 and $0.600
Resistance levels:$1.0690 and $1.1700
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.