Sui (SUI) has seen a price surge recently, showing a bullish momentum in the market. Currently priced at $5.22, SUI’s upward movement has sparked the interest of traders and investors alike.
Sui has a market capitalization of approximately $15.69 billion and a 24-hour trading volume of $2.48 billion. Its performance over the past 24 hours has demonstrated strong growth. However, as the price rises, many question whether Sui can continue this momentum and reach $20 by 2025.
Recent price movement and market activity
Sui’s price has risen by 18% in the past 24 hours, surging from around $4.40 to $5.22 between Jan. 3 and Jan. 4. This upward trend has been accompanied by increased trading volume, which has risen by over 190%.
The token’s circulating supply is 3 billion SUI out of 10 billion. This leaves room for future supply adjustments, which could impact price volatility. With such dynamics, Sui’s potential for further price increases hinges on market sentiment and the supply-demand balance.
Key indicators: RSI and MACD
The technical indicators include the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). These offer insight into Sui’s current market conditions. The RSI currently stands at 77.58, suggesting that Sui is overbought territory.
While the RSI typically signals a potential price reversal when it exceeds the 70 threshold, the strong upward momentum could delay any significant pullback.
On the other hand, the MACD line is above the signal line, which gives us clues about momentum. From this, one can conclude that the buying pressure remains intact and that the bulls will be at work longer. The histogram further supports this, which shows that green bars are expanding, indicating a positive buying sentiment for Sui that is likely to continue.
Sui’s growth trajectory and future outlook
Sui has established a good record of growth, with 473.35% for 1-year performance. Nevertheless, price levels should focus on correction points since the rising price tendency corresponds to an oversold condition by the RSI.
Despite this, the current technical signals suggest that Sui may continue its upward movement, testing new resistance levels, which could increase the price.
Thus, we are still talking about reaching $20 per coin by 2025, but getting there is still rather doubtful and depends upon numerous market factors that have been extremely bullish lately.
