SUI Token Breaks Out from Consolidation, Reaches $3.39
The native token of the layer-1 blockchain, SUI, rose from $3.27 to $3.39, marking a 5.2% volatility range with increased trading volume on Tuesday. This movement reflects broader market sentiment amid geopolitical tensions and trade disputes.
Key points include:
- SUI's recent price consolidation near $3.31 indicates completion of an accumulation phase.
- Formation of higher lows suggests a bullish structure despite minor pullbacks.
- Support levels established at $3.29-$3.30, previously acting as resistance.
- Resistance identified at $3.37-$3.39, supported by an above-average volume of 14.6 million.
- As of press time, SUI traded at $3.30 after some gains were erased during U.S. morning hours.
The Sui Network continues to focus on scalability and Web3 integration, enhancing its position within the blockchain ecosystem.