SUI Price Nears $4.50 as TVL and Momentum Surge
Sui Prices have hit all-time highs on strong momentum, which could push prices higher in the short term. Its total value locked (TVL) also reached a record $1.72 billion.
With technical indicators such as the ADX pointing to a strong uptrend and a golden cross supporting the recent rally, SUI is well-positioned to test the $4.50 level, just 7.7% away. However, if the current bullish momentum begins to fade, the key support levels of $3.94 and $3.65 will be crucial.
SUI TVL hits record high
SUI Blockchain Total value locked (TVL) reached an all-time high of $1.72 billion. This milestone reflects strong investor confidence and growing activity within the industry SUI ecosystemhighlighting its growing popularity.
Sustained higher TVL levels are generally associated with increased utility and demand for the underlying asset, creating potential upward pressure on its price.
TVL measures the total capital locked in a blockchain protocol as a key indicator of ecosystem health and user engagement. SUI’s TVL has remained above $1.4 billion since November 9, with continued capital inflows demonstrating strong support for its network.
This stability, coupled with recent all-time highs, may support SUI price moment.
SUI is currently on a strong upward trend
SUI ADX has surged to 30.6 from below 15 two days ago, indicating a significant strengthening of its trend. This growth shows Sui price There has been a shift from weak or consolidation market conditions to a strong uptrend.
The sharp rise reflects growing market momentum, which could be due to increased investor activity or confidence in the asset.
ADX (Average Directional Index) measures the strength of a trend, with values above 25 indicating a strong trend and values below 25 indicating market weakness or consolidation. SUI’s ADX is 30.6, confirming that it is in a solid uptrend, with room for further growth before the trend shows signs of fading.
During the previous price surge, SUI’s ADX was close to 35, suggesting that the current rally may continue for a while before the trend reverses or weakens. This suggests that SUI could see gains in the near term as momentum builds.
SUI Price Forecast: Will it reach $4.5 for the first time?
December 3rd, Sui The EMA line forms a golden cross, where the short-term moving average crosses the long-term moving average, marking the beginning of a bullish trend.
This technology model sparked the recent backlash, pushing SUI closer to its goals all time high. If the uptrend continues, SUI could surpass this peak with a target of $4.50, a difference of just 7.7%.
However, if the current uptrend weakens and a downtrend occurs, Sui price A test of its first support level at $3.94 is likely. Failure to hold this level could see the price drop further to $3.65, indicating a possible shift in market sentiment.
Disclaimer
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