SUI price chart highlighted a strategic positioning above a significant swap volume area, illustrating the cryptocurrency’s potential to regain the $5 mark.
This area, dense with trading volumes, has historically acted as both support and resistance, making it a crucial pivot point for future price movements.
This “Liquidation Range,” zone suggested that a breach above this level could trigger short-covering rallies, further propelling SUI’s price upwards.
The current price trajectory, where SUI crypto has recently touched highs close to $5, a continued push beyond this threshold seems plausible.
The volume profile suggested a heavy accumulation in this zone, emphasizing the market’s interest and potential support at these levels.
Moreover, the Fibonacci retracement levels drawn across the chart lend analytical weight to the $5 target.
Specifically, the 0.786 retracement level at around $4.7026 coincides closely with recent peaks, reinforcing the significance of this area as a resistance zone.
Should SUI decisively break past this barrier, the pathway towards $5 becomes increasingly likely.
If achieved, this could catalyze a more substantial rally, potentially driving prices towards $10 in the upcoming quarter, contingent on broader market conditions and investor sentiment continuing to favor altcoins.
SUI’s Leveraged Orders
Analyzing the SUI crypto liquidity heatmap, it’s clear the $4.60 zone remains critical. Historically, this level held substantial leveraged orders, now facing potential liquidation risks should prices rise above this mark.
The current trading pattern around this zone confirmed its significance as a pivotal area. Volumes spiked near $4.473, suggesting substantial buying interest just below the liquidation risk zone.
This pattern often preceded higher volatility as traders react to the proximity of these levels.
If SUI continued to push against this resistance, a breakout past $4.60 could trigger rapid price ascents, considering the density of stop orders likely placed around this threshold.
Conversely, failure to surpass this barrier could see the price retract towards lower liquidity zones near $4.20, where less resistance exists. This is critical for traders, highlighting potential entry or exit points based on prevailing liquidity.
The most heated zones around $4.60 radiate red, indicating heavy transaction volumes that could dictate short-term price movements.
As SUI approaches these zones, the market’s response could indeed spark a significant rally, potentially pushing prices toward and beyond the $5 mark in the near term.
Perpetual DEX TVL Pushes SUI Price
SUI crypto Perpetual DEX experienced an impressive total value locked (TVL) surge, reaching $100 million, reflecting a 450% growth over two months.
This significant rise started from a base of around $18 million in early November 2024. The sharp spike in TVL, particularly in December, indicated increased activity within the platform.
As the TVL climbed, it reached a peak right at the year’s end, setting a new high for the exchange.
This growth suggested potential for further expansion and could predict an upcoming rally if the trend continues.
SUI network’s memecoin race saw LOFI emerging as a major player, capturing a 46% market share for the month of December.
This surge in LOFI’s popularity was a highlight in a month that witnessed significant fluctuations in the meme coin sector.
The overall TVL in the SUI crypto network spiked, increasing by $81.8 million, marking a 450% rise within just two months, showcasing an explosive growth in investor confidence and market participation.
This rapid accumulation, culminating at nearly $100 million TVL by early January, reflects a vibrant and expanding ecosystem likely fueled by the success and adoption of leading tokens.
