Tag: imminent

• SUI has increased an interannual 196% until reaching a maximum of two months of $ 3.71.
• On May 1, sui will be unlocked worth $ 265 million, which will generate a possible sale pressure.
• However, the solid defi metrics and liquidity can boost Sui towards $ 4.

The price of Sui has shot 196% during the last year, reaching a maximum of two months of $ 3.71 according to Coingcko data. This rebound coincided with the rupture of a descending wedge a week ago and the recent rupture above the resistance zone of $ 3.60, which raided the way for new profits.

Why is the sui price going up today?

The increase in the price of SUI has been driven by a combination of strengthening chain metrics, a rebound in the activity of meme currencies and a renewed optimism of investors.

During the last week, Sui has registered negotiation volumes that exceed 3.6 billion dollars and the 11,000 million dollars in monthly volume, as operators go to the protocol in the middle of a frenzy for the meme coins, especially in the protocol. Besides, The total blocked value (TVL) in SUI -based protocols It has increased by 40% in April, reaching 2,217 million dollars, which shows the growing confidence in its defi ecosystem.

It should be noted that Sui’s rupture above the key resistance zone around $ 3.60 has generated a new purchase interest that has promoted prices for $ 3.71.

A series of bullish signals in the main technical indicators, including a positive MACD and universally bullish mobile socks, have reinforced the upward trend. However, the reading of the relative force index of 78.80 indicates overstock conditions that could precede a brief pause, but the impulse indicators are firmly maintained in favor of buyers.

Investors have been attracted to the metric of the SUI expanding ecosystem, with a market capitalization of Stablecoins that has increased from 630 million dollars to 880 million dollars in recent weeks. In the field of derivatives, The open interest in SUI futures It has increased 3.75% to 1,540 million dollars, reflecting a growing institutional participation.

Long/Short Relations almost neutral in a 24 -hour period and a slight bullish trend between the main binance operators indicate a balanced but optimistic feeling. The recent two -week rebound of more than 65% underlines the accelerated rhythm of accumulation between retail and institutional investors.

In addition, daily decentralized exchange volumes, which are around 500 million dollars, have provided the necessary liquidity for the rebound to hold. Analysts point out that SUI market capitalization, of 12,000 million dollars, positions it as one of the 15 main layer of layers 1 by value, which attracts significant scrutiny.

Tokens sui will be unlock worth $ 265 million this week

May 1, is provided The unlock of approximately 74 million sui tokens for a value of 265 million dollars, which represents 2.28 % of the supply in circulation.

With only one third of the total tokens supply currently in circulation, the new influx of tokens could generate considerable sales pressure. Historical patterns show that large -scale tokens unlocks usually coincide with brief volatility peaks before markets are readjusted to underlying growth metrics.

It should be noted that massive tokens unlocks usually coincide with temporary price setbacks, since the first holders seek to make profits.

However, SUI chain foundations and its deep liquidity suggest that the network could absorb additional supply without a significant fall. If buyers maintain control above the support level of $ 3.60, SUI could draw a path to the psychologically important milestone of 4 dollars. A fluid absorption of unlocked tokens could cause the price to fluctuate between 3.30 and $ 3.60 before establishing a new upward trend.

On the contrary, a sudden increase in sales orders could boost Sui back to its initial support at $ 3.30 or even try the 10 -day exponential mobile average about $ 3.00. Analysts point out the increase in total locked value and active participation in defi as key shock absorbers against distribution induced volatility.

Recent derivative metrics, including a volume of futures of $ 6.04 billion, also reflect a profound liquidity of the market that can help cushion the supplies abrupt supply. In addition, the long/short positioning between retail and institutional accounts remains slightly biased towards long positions, indicating that many investors prepare for higher profits.

Sui’s network utility is further underlined by DEX daily volumes that rival many more consolidated chains, which highlights their growing role in decentralized finances. Ultimately, the success of SUI’s impulse towards $ 4 will depend on the sustained demand and the trust of the community in the protocol development route.