SUI’s price surged by over 9% in the past 24 hours, climbing from $1.87 to $2.04. This rise follows the Sui Network’s partnership with Google Cloud, which enables developers to access real-time blockchain data.
The native token of the Sui Network (SUI), a Layer 1 blockchain, has seen a notable increase of over 9% within the last day, jumping from a low of $1.87 to a recent peak of $2.04. This upward movement occurred even as the broader cryptocurrency market has been in decline, with leading assets like Bitcoin (BTC) and Ethereum (ETH) trading lower.
The price boost was driven by SUI’s recent integration with Google Cloud, facilitated by ZettaBlock. This collaboration allows developers to leverage Google Cloud’s Pub/Sub service for real-time blockchain data, enabling the creation of more sophisticated decentralized applications (dApps). Moreover, SUI developers can utilize blockchain data through Google Cloud’s BigQuery public datasets, offering advanced tools for data analytics and insights.
This integration is particularly advantageous for AI-based applications that require continuous, up-to-date data. Developers can now access live data from the Sui blockchain, which has helped improve investor confidence in SUI.
SUI Price Performance and Market Outlook
Despite the recent increase, SUI’s overall performance has been mixed. Over the past week, its value fell by more than 3.5%. After reaching an all-time high of $2.36 on October 14, the token has decreased by around 13.56% to its current level of $2.04. This dip follows a significant rally of over 120%, although SUI still maintains a solid 35.50% gain over the last month.
SUI Price Chart (Source: TradingView)
From a technical perspective, the SUI/USDT daily chart displays a bullish crossover, with the 50-day moving average (MA) crossing above the 200-day MA, suggesting a potential upward trend. The Relative Strength Index (RSI) is at 61.75, indicating growing buying momentum.
If this trend persists, SUI could target resistance at $2.18 and potentially exceed $2.25. Conversely, a downward shift might bring the price closer to key support levels at $1.94, and possibly further down to $1.65.
