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The Sui price rose 3% in the last 24 hours to trade at $4.11 as of 11:25 p.m. EST on trading volume that surged 34% to $1.45 billion.
Sui Price Poised For A Bullish Rally
The SUI price chart on the daily timeframe reveals a significant retracement after an impressive rally. The Sui price reached a local high of $5.30 before declining sharply.
Currently, SUI is trading around $4.11, struggling to reclaim previous highs while testing key support levels.
As a result of the downtrend from the resistance level, the price of SUI now trades below the 50-day Simple Moving Average (SMA), which acts as the immediate resistance in case of an uptrend at $4.49, according to GeckoTerminal data.
Meanwhile, the Sui price, according to the Fibonacci Retracement levels, is testing the 0.382 Fibonacci level at $3.94, which provided strong support.
The next key levels to watch are 0.5 Fib at $3.52 and 0.618 Fib at $3.10, which could act as further support in case of another leg down. Another resistance level is at the 0.236 Fib level ($4.46), which needs to be reclaimed for a bullish recovery.
The Relative Strength Index (RSI) is at 45.62, indicating neutral to slightly bearish momentum. If the RSI dips further below 40, it could signal oversold conditions, potentially leading to a rebound.
SUI Price Prediction
The current Sui price market structure suggests a neutral-to-bearish outlook in the short term, with the potential for recovery if key resistance levels are broken.
If SUI reclaims $4.46 (0.236 Fib level) and breaks above the 50-day SMA at $4.49, the price could target $5.30 again, with a further extension towards $6+ if momentum strengthens.
A failure to hold the $3.94 support (0.382 Fib) could lead to further downside, with potential targets at $3.52 (0.5 Fib) and $3.10 (0.618 Fib).
As the Sui price rises, investors are also buying into a new meme coin called Meme Index (MEMEX). According to crypto analyst and YouTuber Jacob Bury, who has over 54.9k subscribers, MEMEX has the potential to be the next 10x crypto.
Meme Index Presale Raises Over $3.1 Million – Best Crypto To Buy Now?
Meme coins are known for their volatility, but new ICO Meme Index aims to bring some structure to the chaos.
Finding the next meme coin with huge growth potential isn’t easy, as only a few deliver the big returns investors want. Meme Index solves this problem by offering investors diversified baskets of meme coins.
These are Meme Titan, Moonshot, Midcap, and Meme Frenzy. Each basket caters to varying risk appetites, from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, which features emerging and highly volatile meme coins for those seeking a thrilling investment experience with potentially huge rewards.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
This approach creates a balanced portfolio, offering a safer way to navigate the unpredictable meme coin market.
MEMEX holders can also participate in its presale staking pool, which currently provides a stratospheric annual yield of 721%.
To participate in the presale, you can purchase MEMEX tokens on the official website for just $0.0157183.
Buy soon to lock in the best deal as the price will increase in less than 1 day.
Buy MEMEX tokens using USDT, ETH or bank card.
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Newest Meme Coin ICO - Wall Street Pepe
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