Ethereum

Convergence

Flow

Divergence

<ul class="wp-block-list">
 <li>SUI hits a new all-time high, trading at $4.80.</li>
 <li>The asset has witnessed a 24-hour liquidation of $10.75 million.</li>
</ul>
The crypto market woke up to the sound of bullish bells, with Bitcoin reclaiming the $100K mark. <a href="https://thenewscrypto.com/ethereum-eth-seeks-to-reclaim-the-4k-level/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> rose by 7% and is on the verge of reclaiming $4K. Notably, SUI hit a new all-time high of $4.86, surging by over 30.5% in the last 24 hours.
SUI’s rally toward new highs could rekindle the market sentiment and kickstart another rally targeting $5. SUI has broken through its critical resistance levels, inferring a potential uptrend.&nbsp;
The asset opened the day trading at $3.72, before surpassing the unforeseen trading range. At the time of writing, SUI <a href="https://coinmarketcap.com/currencies/sui/" target="_blank" rel="noopener noreferrer nofollow">trades</a> at $4.80 as per CMC data. And the asset’s daily trading volume has reached $3.47 billion. Besides, SUI has witnessed a 24-hour <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">liquidation</a> of $10.75 million.&nbsp;
While zooming out over the past <a href="https://thenewscrypto.com/will-sui-bullish-momentum-push-it-past-10/" target="_blank" rel="noopener noreferrer nofollow">week</a>, SUI has recorded a similar range of surge of over 28.30%. This triggered the altcoin to break its resistance at $4 and to move forward to new trading levels.&nbsp;
<h3 class="wp-block-heading" id="h-is-sui-poised-to-keep-rising">Is SUI Poised to Keep Rising?</h3>
As SUI’s Moving Average Convergence Divergence (MACD) line crossed above the signal line, the four-hour technical chart analysis of the asset highlighted the ongoing upside pressure, which is often considered an opportunity to enter long positions.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdJT5Zw6Png-F6x1et3w7rQsB81Z77ZJBnQEf5O2aaNuJK0VvCDMwBjuDhRwraESU85-fhpc3jSkGugLqx_MWQNvQXZsKaRa9inxG6UzK8SJ5m-IjtgaZpRaX2zg8X6SAIOlsAIgA?key=0NQr9Zlu969Lmi9uIZrPLso9" alt="">
 <figcaption class="wp-element-caption">SUI chart (Source: <a href="https://in.tradingview.com/symbols/SUIUSDT/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
In addition, the Chaikin Money Flow (CMF) indicator, which assesses the capital flow, is found at 0.25, suggesting a positive flow and strong buying activity. Meanwhile, the trading volume of SUI has increased by 65.53%.&nbsp;
The SUI price has enough room for further upside rally, with the immediate target at $4.90. If the asset surpasses this mark, it could eye a potential $5 range, which signals a renewed upward momentum.
However, if the current upside correction weakens, the emerged death cross might test the asset’s nearby support at $4.57. Should this level fail to hold, the price could even slip below $4.20, acting as a crucial ground for SUI.
Moreover, the altcoin stays within the overbought <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3ASUIUSDT" target="_blank" rel="noopener noreferrer nofollow">territory</a> in the market, as the daily relative strength index (RSI) is stationed at 71.43. The daily trading window of SUI displays the short-term 9-day MA above the long-term 21-day MA.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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SUI Surges to New Highs on Bullish Momentum

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