Sui price surged 6% over the past 24 hours, reaching $1.70. The cryptocurrency experienced a breakout from a falling wedge pattern, signaling a bullish trend. This boom is after Vanguard Group decided to include SUI in their Bitwise 10 Crypto Index, enabling an investor to show interest. Sui has increased by more than 20% in two days, with a 24-hour trading volume increased by 73%. The overall crypto market was also soaring, which gained SUI more ground.
Why Is Sui Price Up Today?
Sui price saw a notable price surge today, fueled by key developments in the cryptocurrency market. Vanguard Group has officially incorporated $SUI to its Bitwise 10 Crypto Index, which will be a major step in the integration of cryptocurrencies. This action underlines the increased interest of Vanguard in digital assets.
The biggest breakthrough was the fact that after overcoming regulatory hurdles, Sui got listed on Coinbase to the New York residents.
This innovation will enable the people living in the state to trade SUI on the platform to a positive market response.
Moreover, the crypto market in general displayed indications of a revival, and significant growth was observed in large currencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE).
Sui has performed better than most of its peers because the larger market has increased by 1.63 percent in the last 24 hours and 4.16% in the last week. This is an upswing that comes after SUI had a token unlock event, which further adds to the price movement of the asset.
SUI Achieves Record $2B in Trading Volume in Just 24 Hours.
The SUI token was recently trading at an impressive 2 billion over the last 24 hours. This is the largest daily volume in last one month, indicating a jump in the market activity.
TweetThis achievement is an indication of the increasing interest and trading momentum of $SUI, which implies great prospects of performance in the future on the market.
Can Sui Price Break $1.80 Resistance?
The Sui price hovered at $1.69, showing a significant surge in the past 24 hours. The rise comes after a period of consolidation, where Sui is touching on major support levels.
The price has since increased to reach the resistance zone at $1.80, which is an indication of a breakout.
The target price of Sui is currently considering a target of $1.80 as the possible resistance market, and the second level is $2.00. On the negative side of the situation, the support zones are at $1.60 and $1.50.
If the Sui price holds above $1.60, Sui could continue its upward trajectory as the Sui long-term prediction remains bullish.
Source: SUI/USD 4-hour chart: TradingviewThe Relative Strength Index (RSI) is 63, indicating that the coin is in a bullish trend. In the meantime, the MACD is also positive with the blue line crossing the orange line, which shows the market outlook is favourable.
Source: https://coingape.com/markets/sui-price-surges-10-as-vanguard-group-adds-sui-to-bitwise-10-crypto-index/
