Can SUI Crypto Price Hit $10 Mark Amid This Daily Inflow Surge?

• Daily inflow suggests that SUI Network dominates all the chains.
• Sui price witnessed a fall of 20% on December 09th.
• The 24-hour trading volume has surged by 121% to $2.87 Billion.

Sui price has remained bullish since September and has climbed by 382%. Amid this bull run, Sui crypto price has recorded an all-time high (ATH) of $4.47 on December 06.

However, the SUI price has experienced mild selling pressure. The price has been defending the $3 level since November, demonstrating bullishness.

SUI price was wandering in the pullback territory and defending the 20-day EMA. On the 20-day EMA, a battle between buyers and sellers could be seen.

SUI Network was at the top of every chain, according to the daily netflow chart for different blockchain networks over 24 hours.

SUI’s net flow was much higher than that of its nearest rivals, suggesting strong interest and activity that might raise the company’s market price.

Could SUI Price Reach $5 or Lose $3 Level in December?

Sui crypto traded at $3.83 at press time, down 5.46% in the past 24 hours. The market capitalization was $11.19 Billion and the 24-hour trading volume was $2.86 Billion.

According to the chart structure, the SUI coin price was in the pullback territory. If the price manages to defend the 20-day EMA, the chances of a pullback could be increased.

If the price pulls back, it could record a new ATH in a single spike. Once the price starts trading over the previous high, bulls might dominate. In this scenario, buyers might eye the $5 mark. Here, trading volume might work as a catalyst and may boost the bullish momentum.

On the other hand, if the price slips below the 20-day EMA, sellers may dominate. If it sustains below this EMA, it may lose the $3 mark in a few days. Once the price loses the $3 mark, most traders and investors might prefer to book profit.

Could SUI Crypto Grab 20x Return?

SUI’s net inflow for the day peaked at just under $20 Million, indicating a significant inflow of assets or money into the network.

Although they were less noticeable than SUI, competing networks like Arbitrum, Solana, and Base also displayed positive net flows, with each reporting inflows of more than $5 Million.

Even though these numbers showed a significant amount of activity, SUI’s performance still took center stage.

Ethereum, on the other hand, shows a notable outflow, signifying a net loss of assets worth approximately $5 Million.

SUI Price Prediction Based on Chart

SUI Network has shown significant activity and interest, leading to its dominance in daily netflow among blockchain networks. Despite a recent price drop and some selling pressure, the SUI price has remained resilient around the crucial $3 level, indicating the presence of bullish sentiment.

The ability to defend the 20-day EMA could set the stage for a potential price rally toward new all-time highs, possibly reaching the $5 mark. However, if SUI fails to maintain this support level and drops below the EMA, it may trigger a shift in momentum, leading to a possible fall below $3 as traders look to secure profits.

Disclaimer

This article is for informational purposes only and provides no 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.