Issued on: 19th Jun’23
Valid upto: 24th Jun’23
Token: SUI
Category: Layer-1 Blockchain
Market Cap: $460M
Circulating Supply: 604,047,436
Total Supply: 10,000,000,000
Price Update:
SUI price at the time of writing (19th June, 17:00) is $0.7609, with 24-hour Market capitalization increased by 0.15% to $463. GRT price is up by 0.55% in the last 24 hours according to coinmarketcap.com.
Source: Tradingview
Analyzing the above chart:
- The price of SUI has reversed its previous decline since mid-june and is now on an upward trend, accompanied by a gradual increase in trading volume.
- In the 4-hour time frame, SUI found support at the 55 EMA($0.705) (orange line) and is currently moving towards the 200 EMA (blue line), which serves as a supply/liquidity zone.
- In the 4-hour timeframe, SUI retraced to the 0.382 fibonacci level, coinciding with the 55 EMA ,which further confirms a bullish sentiment.
- A Long Trading strategy can be assessed between $0.7387-0.7629 with invalidation below $0.7089
- On the upside, one can see a rise of 10-12% towards $0.8419.
- It would seem that one should maintain a balanced risk to reward ratio and check use of leverage and position size to ride out current market conditions.
Note: SUI is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade SUI in Futures Market at CoinDCX
Trade SUI in Futures Market at CoinDCX Pro
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
