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The Sui price surged 13% in a week despite dropping 3% in the last 24 hours to trade at $1.90 as of 03:24 a.m. EST on trading volume that fell 16% to $1.4 billion.
This comes as Bitcoin and many other cryptocurrencies slump amid concerns over rising tensions in the Middle East as Israel vows to make Iran pay for a missile attack, dampening optimism over a possible Uptober bull run.
Sui Price To Continue Soaring
The Sui price has been on a sustained bullish rally, as the bulls took advantage of the consolidation phase within the $0.85 range, according to data from GeckoTerminal.
The trend, since mid-September, resulted in the price of Sui trading within a rising channel pattern as the bulls aim to sustain the trend.
SUI now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the sustained bullish trend.
Moreover, the Relative Strength Index (RSI) is moving towards the overbought region, currently at 56, indicating that the bulls are initiating a buying campaign.
The Moving Average Convergence Divergence (MACD) also trades above the neutral line, showing that the price of Sui is still on a sustained bullish stance. The blue MACD line also crosses above the orange signal line, confirming that the token is on a positive momentum to the upside.
Sui Price Prediction
According to the SUI/USD chart analysis on the 4-hour timeframe, SUI is poised for a sustained bullish rally to the upside as the bulls aim for a rally above the rising channel pattern.
Major indicators, including the MACD and RSI, show that SUI could still rally. Additionally, the 50-day SMA crosses above the 200-day SMA, forming a golden cross at $0.89, further cementing the bullish prospects.
If the bulls maintain the bullish trend, the price of Sui could still soar, as they target $2.5.
Conversely, if the bears take control of the price at this level, the cost of Sui could plunge back to the $1.2 support (200-day SMA).
Meanwhile, investors may want to consider another project that’s following a rapidly rising trajectory: Crypto All-Stars (STARS). This project has already blasted past the $1.9 million mark in its blockbuster presale.
That’s a key reason why crypto YouTuber Jacob Bury, who has over 42K subscribers, believes that $STARS has the potential to increase 10X following its launch.
Crypto All-Stars Presale Closes On $2 Million
Crypto All-Stars stands out for introducing the first unified staking protocol for meme coins, allowing users to earn passive income by staking their tokens on a single platform.
It is developing an innovative staking platform called MemeVault, which allows users to stake leading meme coins in one place to earn rewards.
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
The platform allows STARS holders to stake 11 popular meme coins at launch: Pepe, Dogecoin, Shiba Inu, Floki Inu, Milady, Brett, Turbo, Mog Coin, Toshi, Bonk, and Coq Inu. More meme coins will be added in the future.
You can also earn passively through the project’s native staking mechanism, which offers a huge 765% annual percentage yield (APY).
You can buy the token now for $0.0014769. With the price set to increase in less than a day, act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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