Sui Network’s SUI has seen a 2.26% price increase over the past day, though its daily trading volume has dropped by 5.58%, according to CMC data. The broader crypto market turned bearish within the last 24 hours, partly due to Bitcoin’s slide back to the $68K range. The overall crypto market cap decreased by 0.76%, while daily trading volume spiked by 12.89%. Despite this, some altcoins have displayed a bullish shift.
Worldcoin and SUI, both of which recently faced price declines, have shown signs of recovery in recent days. Specifically, SUI has gained an additional 2.26% in the last 24 hours, trading around $1.85 in the Asian morning hours on November 4 before crossing the $1.9 mark.
In mid-October, SUI experienced a dip that held for nearly 10 days, bringing it back to the $1.6 level before its recent bullish movement. Over the past few days, SUI has regained momentum, briefly surpassing the $2 mark and currently trading at $1.93 according to CMC data. Its RSI suggests a neutral market stance at 50.91, after a short period near an oversold condition.
Could SUI Achieve Higher Price Levels?
SUI’s technical indicators point to a positive outlook, with the short-term 9-day MA nearing the 21-day MA, hinting at a potential bullish crossover, according to TradingView. If the upward trend continues, SUI may encounter resistance at $1.99 and $2.14.
SUI’s bull power indicator currently sits at 5.45, while its bear power is at 2.61, indicating a positive sentiment. This suggests a sustained bull run could be possible, with prices nearing its target level of $2.36.
Meanwhile, other altcoins like Ethereum and Solana are navigating through consolidation or modest gains over recent days.
