- Sui token rose 7.33% to $2.08 in 24 hours, breaking a key resistance point despite a mostly flat crypto market.
- The surge put SUI nearly 7% ahead of the CoinDesk 5 benchmark index, indicating token-specific demand.
- Trading volume was below its 7-day average overall, but a spike during breakout suggests focused buying, possibly by large investors.
- SUI supports a layer-1 blockchain with parallel transaction processing for faster scalability.
- Technical levels show higher lows building up to a breakout above $2.00, with resistance near $2.08 and next targets around $2.34.
SUI token advanced 7.33% to $2.08 over the last 24 hours, breaking through a key resistance level while much of the cryptocurrency market remained flat or declined. This move placed the token nearly 7% ahead of the CoinDesk 5 (CD5) benchmark index, highlighting strong demand specific to SUI.
Despite the price increase, SUI’s overall trading volume stayed below its 7-day average, an unusual contrast suggesting targeted accumulation likely by institutional investors or whales. At the breakout point, volume briefly surged to 44 million tokens, a 168% increase above the daily average, indicating coordinated activity around key price levels.
SUI powers the layer-1 blockchain developed by Mysten Labs. The blockchain’s architecture features parallel transaction processing, which enables faster transactions and improved scalability. Although no major public catalyst was reported on the day, analysts have pointed to the network’s design and growing ecosystem as factors supporting long-term growth. Some projections have set a $5 price target for SUI by 2025.
Technically, SUI displayed higher lows at $1.93, $1.95, and $1.98, culminating in its rise above the psychological $2.00 threshold. Resistance now stands between $2.07 and $2.08, with a next potential upside target around $2.34. A stop-loss below $1.96 may offer a favorable risk/reward setup for traders who expect the price to continue rising.
Meanwhile, the broader CD5 index declined slightly, moving from $1,731.12 to $1,729.63. Earlier in the day, the index hit a session low of $1,700.39 before partial recovery. This contrast underscores SUI’s relative strength amid broader market caution.
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