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The Sui price has surged 6% in the last 24 hours to trade at $2.01 as of 9:07 a.m. EST, on a 125% surge in trading volume to $473 million.
The surge coincides with SUI rising as one of the top trending coins on coinmarketcap, surging 20% in the past week with a market capitalization of $2.6 billion.
Sui Price Breaks Gears A Bull Rally Above The Symmetrical Triangle
SUIUSDT Analysis By Tradingview
Sui price is on an uptrend, breaking from the consolidation channel as the bulls initiated a buying surge on the $1.54 support, forming a symmetrical channel.
Despite the slight pullback at $1.89 resistance, the bulls showed resilience, driving the Sui price to a new high of $2.18.
The price trades higher than the 50-day and 200-day simple moving averages (SMAs), indicating a positive sentiment with the golden cross at $1.61.
The Relative Strength Index (RSI) is also bullish, rising from the 50 midline level to 61 towards the overbought level, indicating intense buying pressure.
Sui Price Bulls Aim For New Highs
The Sui price maintains a bullish stance as bulls look to achieve new highs by the end of April. However, if bears intervene, there is a risk of a sell-off towards the protective support zone at $1.85.
Meanwhile, investors are now turning their focus to SpongeV2, which experts believe has the potential to surge 100X upon its launch.
A Promising Alternative For 100X Returns
SpongeV2 is attracting attention due to the potential for a significant price increase, largely attributed to the success of its predecessor, Sponge V1. In May 2023, Sponge V1 experienced remarkable growth, achieving 100X returns for early investors and reaching a peak market capitalization of $100 million.
Never fade $SPONGE 😎🧽💦#SpongeV2 #Crypto #Web3 #Alts #Binance #OKX #Bullish #100x pic.twitter.com/hkRjRfuqGq
— $SPONGE (@spongeoneth) March 29, 2024
Traders have the opportunity to earn passive income through their tokens. By buying and staking V2 tokens, investors could potentially receive returns of up to 378% on the Polygon network and 169% on the Ethereum network
The platform plans to launch a play-to-earn racer game that is available in both paid and free versions. In the paid version, SPONGE will serve as in-game credits, and rewards will also be given out in the meme coin.
🌟 With bigger exchanges on the horizon and added #P2E utility, #SpongeV2 is set to be bigger and better than ever!
We’re not here to take part, we’re here to take over! 🧽💦
$SPONGE #Crypto #Web3 #Alts pic.twitter.com/BlGZhYKjoe
— $SPONGE (@spongeoneth) March 27, 2024
Word on the street is that Sponge V2 might be listing on tier-one exchanges soon, but the specifics are a bit fuzzy right now.
Visit the project’s official website to buy SpongeV2 tokens using your ETH, MATIC, USDT or bank card.
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