Sui Price Prediction for Today, November 4 – SUI Technical Analysis
Release: 2024/11/04 19:59 Reading: 242
SUI Price Analysis and Market Outlook
Key Metrics
- Current Price: $1.88
- Market Cap: $5.35 billion
- Trading Volume (24h): $630.7 million
- Circulating Supply: 2.85 billion SUI
- Total Supply: 10 billion SUI
- CoinMarketCap Ranking: #19
Price Movements
SUI reached its peak price of $2.36 on October 14, 2024, and has since experienced some volatility. It reached a minimum level of $1.61 approximately 21 days later, but has since recovered, showing a 16.70% increase from this low.
Key Support and Resistance Levels
- Resistance: $1.95, $2.19, and $2.36
- Support: $1.73, $1.62, and $1.55
Technical Analysis
The daily chart for SUIUSD shows a mixed market sentiment. Bollinger Bands indicate low volatility, suggesting that the uncertainty surrounding the U.S. presidential election could potentially lead to increased volatility. The current price of $1.88 is near the middle band, indicating a neutral trend.
The Relative Strength Index (RSI) is slightly below the neutral mark of 50, suggesting a mild bearish tendency. If buying pressure increases, SUI may test resistance levels; conversely, risk-aversion could lead to a decline towards support.
Market Dynamics
SUI's recent increase in trading volume indicates market interest. However, it remains vulnerable to broader economic conditions and investor sentiment. The platform's significant market cap and top 20 ranking demonstrate its growing influence, but its long-term success depends on continued adoption and network activity.
SUIBTC Performance
SUI is trading at 0.00002747 BTC against BTC. Bollinger Bands indicate low volatility, with immediate support and resistance levels around 0.00002528 BTC and 0.00002855 BTC, respectively.
Alternative Options
Pepe Unchained ($PEPU) has gained attention in the meme coin space. Its presale attracted $24.5 million in investments, reflecting market interest. The project aims to overcome limitations of legacy networks by deploying its own Layer 2 blockchain, offering fast transactions and low gas fees.
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