The SUI cryptocurrency has broken above a key $1.00 support level, signaling renewed bullish momentum. Technical indicators suggest growing buying pressure as the token trades near $1.04 with a market capitalization of approximately $4.1 billion. Analyst BitGuru projects the next resistance could be between $1.08 and $1.12, contingent on sustained demand.
The SUI token is gaining traction after breaking out of consolidation and resuming its uptrend. It is currently trading at $1.04, up 5.68% over 24 hours with a daily trading volume reaching $911.56 million, according to CoinMarketCap data.
Analyst BitGuru observed that SUI has started developing a clear upward trend from a sideways price range. “The fact that SUI has managed to stay above the $1.00 price point indicates that the coin is seeing increased demand from investors willing to support the price at this critical point,” they stated.
BitGuru emphasized that continued demand could push the coin toward the $1.08 to $1.12 range. Technical indicators, including a rising RSI and a positive MACD histogram, signal increasing buying activity and building upward momentum.
SUI is trading above its 20-day moving average at $0.93 and testing its 50-day average near $1.03. The token faces longer-term resistance from the 100-day and 200-day moving averages, which sit at $1.31 and $2.01, respectively.
Market analysts project the next possible resistance lies between $1.08 and $1.12 if SUI holds above the $1.00 support. BitGuru noted this move is dependent on the strength of buying activity in the coming days.
