Main Takeways:-
- SUI STABLOIN SUPPLY increases to $ 746.81M, a growth of 99.82% in the year in which the liquidity of the network and prospective development will be carried out.
- According to experts, the SUI graphic pattern indicates a breakdown potential, with a possible breakdown above $ 2.90, with the aim of $ 5.
- SUI remains stable above $ 2, even with a monthly drop of 7.38%, backed by a recovery of RSI bullish and recent developments in Greece associations.
SUI’s Stablecoin supply reaches a mark of $ 746.81m
Significantly, the Sui Blockchain reached its maximum supply of Stablecoin when it exceeded $ 746.81 million in value. According to recent one -year information so you are going to date (YTD) shared by Torero Romero in X, Sui revealed a significant increase of 99.82% in the stable supply.
Consequently, Stablecoin’s supply growth has improved the liquidity of the network, therefore, it establishes stability together with growth opportunities. Due to more liquidity, SUI is ready to handle larger transactions, which will bring more users and attract new investors and interested parties.
In addition, as the Stablecoins supply grows, it will help all network activities, including decentralized applications and intelligent contract operations.
The wedge pattern suggests a possible price break
Even more, the sui price has currently developed wedge formation that points to a possible price break.
Sui Crypto has shown price stability at $ 2, even with a price adjustment of 60%. Significantly, wedge formation was developed during the market stabilization phase when prices move towards two lines that approach each other.
The price change after the rupture of this training generally results in a strong trajectory change that may be higher and lower. In addition, Sui Crypto’s relative force index shows signs of price recovery as the Token goes from being overloaded towards neutral levels.
The fall at the descending moment indicates that Sui crypto tokens could be positioning for an upcoming upward trend. The maintenance support of $ 2 shows a growing optimism over the possible increase of sui above the target price of $ 3.
Sui Price maintains a $ 2 support in the middle of a monthly decrease
On the other hand, Sui Crypto Price has decreased by 7.38%, but has managed to have the important level of support of $ 2. The sustainability of Token at this price level highlights its strength to resist the general volatility of the market.
After four successive descending candlesticks, a small upward candle appeared, which suggests a potential change in the market direction. In this situation, it is likely that the expected price action creates an upward trend that can exceed the resistance barrier to $ 2.90.
An expert in encryption, Cryptowzrd has observed that if the price exceeds this level, it could show an important market increase, potentially promoting the token towards the $ 5 mark.
Sui Crypto Price strengthened by Greece Partnership
In a different update, Sui made a key blockchain in association with the National Stock Exchange of Greece. The strategic alliance marks a significant step in Sui’s growth strategy while creating confidence in the network and creates more practical uses in the real world.
In addition, the growing interest of institutions in the Sui Blockchain, shown by this association, points out the positive effects that could increase the market value of the Token.
At the time of informing, the price of the sui crypto was quoted at $ 2.14, indicating a 0.97% increase in the last 24 hours. The price tested shortly the resistance level at $ 2.12 before submitting to slight variations, indicating a retention pattern at the current levels.
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Discharge of responsibility: In Bitcoinik.com we present the most recent information in the encryption market. However, this information should not be considered as financial advice, and viewers must consult their financial advisors before investing.
