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The Sui price surged 9% in the last 24 hours to trade at $1.99 as of 03:31 a.m. EST on trading volume that skyrocketed 126% to $2.2 billion.
This comes as Sui, a Layer-1 blockchain and smart contract platform, flips Solana (SOL) by total number of transactions.
Sui’s total transactions stood at 58.37 million, over 20 million more than Solana’s total transactions, which came in at 35.41 million, between October 3 and October 5, according to a post on X by on-chain analytics platform Trading Copter.
🚨 Breaking News! 🚨
The $SUI Network surpassed the #Solana Network in total transactions for the first time ever! 🚀📈 pic.twitter.com/1cSkBjmiF2
— Trading Copter (@TradingCopter) October 7, 2024
Sui Price On A Sustained Bullish Rally
The chart shows a clear uptrend over the past few weeks. The price has been steadily rising, forming a rising channel. Currently, the price is trading near the upper resistance line of this channel, suggesting potential resistance at the $1.99 level, according to data from GeckoTerminal.
SUI now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the bullish stance.
The RSI is currently at 58.56, which places it in the neutral-to-bullish zone. It’s not yet in overbought territory, meaning there’s still some room for the price to move up before potentially facing overbought conditions. However, RSI has cooled off slightly from higher levels, indicating a possible slowdown or consolidation.
The MACD line (blue) is above the signal line (orange), indicating bullish momentum. This slight positive histogram suggests the market is in a bullish phase but might be experiencing a pullback as the histogram has started to flatten.
Sui Price Prediction
According to the SUIUSD chart analysis on the 4-hour chart, the Sui price is currently on a bullish rally, which the bulls aim for a continued surge. If the bulls sustain the surge, SUI could rise, as the bulls target $2.5.
Meanwhile, if the RSI continues to correct, the bears may take full control of the price, plunging back to the $1.39 support (200-day SMA).
Meanwhile, investors looking for alternative investments may want to consider Crypto All-Stars (STARS), an innovative new ICO that has raised over $2 million.
According to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, $STARS has the potential to soar 10X after its launch.
Crypto All-Stars Presale Secures Over $2 Million – Best Meme Coin to Buy Now?
Crypto All-Stars is off to a roaring start in its presale, having already raised over $2 million within two months of its launch.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
Crypto All-Stars introduces an industry-first capability: enabling investors to stake top meme coins in one place and earn rewards in STARS tokens through its MemeVault protocol.
The meme coins that can be staked on Crypto All-Stars are Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
You can also earn passively through the project’s native staking mechanism, which offers a jaw-dropping 710% annual percentage yield (APY).
You can buy the STARS token now for $0.0014887. With a price hike coming in less than 2 days, buy soon to secure the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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