SUI (SUI), the native token of the Sui Network, increased almost 10% in the last 24 hours after several catalysts last week pushed the Token in a breakdown area.
The Token offered an upward action, rising to $ 3.24 of $ 2.94 with a negotiation range of $ 0.34 that reflects 11.5% volatility, according to the technical analysis model of Coindesk Research. He built an substantial ascending impulse with volume surge notable at $ 2.99 and $ 3.10, which demonstrates a strong institutional accumulation and validating these break points as high volume base levels.
The critical resistance was materialized at $ 3.27, where the price found the investment in the middle of a high volume, while the support stabilized within the area of $ 3.20- $ 3.21 during late negotiation hours, indicating a possible positioning of accumulation to continue the movement up.
The bullish impulse occurs after several catalysts for the Token, including the launch of the Threshold Network TBTC, a Token ERC-20 backed 1 to 1 by Bitcoin, in the Sui blockchain in Sui earlier this week, which could add more than $ 500 million in Bitcoin liquidity to the Sui network.
SUI is among the five main layer 1 networks, with a daily volume of approximately 135% compared to the 52% market average, according to Coinbase data. The Token has increased more than 340% in the last 12 months, exceeding the widest cryptographic market measured by the Coindesk 20 index, which increased approximately 2.8% during the same period.
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