The SUI network has been making waves lately, and there’s a lot to unpack! Despite some rocky times in the crypto market earlier this month, SUI’s price showed some real strength, staying solid within a narrow range. This resilience suggests that traders are feeling pretty confident about the token's future, and it even managed to reach a new all-time high (ATH). Now, with the price just 12% below its peak, there’s a good chance we might see another push to new heights soon!
In other big news, SUI has smashed through the 6 billion transactions mark—no small feat, right? And it did this despite some drama: a $400 million insider selling allegation. The accusations didn’t seem to hold the token back, though, which shows some serious community support and belief in the project.
SUI’s also getting a lot of attention on social media, although Solana still holds the crown when it comes to social dominance. Even so, SUI's momentum is building, and it’s currently holding strong above the $2 mark. The next target? A push towards the $3 resistance level. It’s clear that SUI is keeping its bullish vibes alive!
Zooming out to the daily time frame, SUI has already made a recovery and is working its way back into the resistance zone. If SUI can break past $2.15, we might see a reversal, which could really kickstart another price rally. The weekend could be a game-changer here—a price rise might bring hopes of a new ATH, but if it fails, we could see it drop below $2.
TL;DR: SUI is showing a lot of strength and potential right now. With a huge transaction milestone, price support at $2, and social buzz, it’s definitely one to watch. Keep an eye on how it moves this weekend—it could be a big one!
SUI price, past 24 hours as of October 18 2024
