Key Points:
- Sui (SUI) achieves $1 billion Total Value Locked (TVL), marking a significant milestone.
- Sei (SEI) experiences sharp price gains, approaching resistance at $0.52.
- Both SUI and SEI show potential bullish trends based on technical indicators.
- Investors closely monitor key support and resistance levels for further price movements.
Sui’s $1B TVL Milestone and Price Action
Sui (SUI) has drawn significant attention in the cryptocurrency market after reaching a substantial $1 billion in Total Value Locked (TVL). This achievement, coming less than two years after its mainnet launch, highlights growing investor confidence and the token’s strengthening market position. As of now, SUI is trading at $1.75, reflecting a 5.07% increase in the last 24 hours.
In recent market activity, SUI dipped to a low of $1.6686 before quickly rebounding to a high of $1.85, demonstrating strong recovery momentum. A spike in trading volume, surging by 108.96%, signals heightened buying interest. Traders are paying close attention to critical support and resistance levels, with $1.6686 acting as a key support point, while $1.85 serves as an immediate resistance level. If SUI can break above $1.85, analysts predict $1.90 could be the next target.
Looking at the technical indicators, SUI’s Relative Strength Index (RSI) has climbed to 77.10, signaling overbought conditions. However, the Moving Average Convergence Divergence (MACD) remains in bullish territory, trading above the signal line and suggesting continued upward momentum in the short term.
Sei’s Surge and Market Outlook
Sei (SEI) has also emerged as one of the top-performing altcoins, with its price surging by 5.28% in the past 24 hours to reach $0.4698. After experiencing a dip to $0.4462, SEI quickly rebounded, hitting a high of $0.52 before pulling back slightly. A dramatic 154.75% rise in trading volume has driven this price action, reflecting increased market interest and buying pressure.
Key support levels for SEI currently sit at $0.4462, where the price found footing after the recent decline. Another potential support level could form around $0.46, while on the upside, $0.52 remains a critical resistance level to watch. Should SEI successfully break through this barrier, the next potential target could be $0.55, based on historical price movements.
Technical indicators for SEI paint a mixed picture. The RSI has reached 69.82, nearing overbought territory, yet the MACD remains in a favorable position, with the line still trading above the signal, suggesting the possibility of further bullish momentum in the near future.Conclusion: Both Sui and Sei have captured significant market attention with strong price performances and rising trading volumes. Investors are closely watching technical levels and indicators as these altcoins continue to present short-term opportunities for growth.
