Sui course shows signs of relaxation: strong technical indicators and increasing Dex volume heat Bullish expectations

Sui course shows signs of relaxation: strong technical indicators and increasing Dex volume heat Bullish expectations
SUI course analysis: signs of an impending recovery
The cryptoma markets continue to be volatile, and the SUI course has also experienced challenges in the past few weeks. Nevertheless, the recently increased commercial volumes on decentralized stock exchanges (Dex) and strong technical indicators indicate that a significant recovery of the token could be imminent.
On Wednesday, April 2, the SUI course reached a daily high of $ 2.51, which corresponds to an increase of 5 % compared to the previous day before the price returned to $ 2.36. Despite this correction, SUI has a decline of 9.97 % over the past month after the course was $ 2.89. It is positive, however, that the token was able to hold an important support zone, which could favor a possible increase in the price.
Sui course forecast
This month Sui has already found twice strong horizontal support in the range of $ 2.0 to $ 2.2. This double confirmation could give the bullish impulse additional momentum so that a breakthrough could be imminent. The development of the course near a descending trend line is particularly crucial at around $ 2.5. If SUI successfully exceeds this area, the course could break through the 20-week-exponential sliding average at $ 2.9414.
An increase in this brand would move the next price target to the resistance zone at $ 3.7. The relative strength index (RSI) is currently around 48, which indicates that there is still scope for a price increase before the token is considered overbought. A successful breakthrough from the medium-term area could raise the price to $ 5.20, which would be close to the previous annual stalls.
Fundamental data and market volume
The fundamental data for SUI strengthen the optimistic views because the latest price increase corresponds to an increase in the Dex volume. It is noteworthy that the Dex volume has reached a total volume of $ 70 billion since the start of the platform, which corresponds to an increase of 9.13 % in the last 30 days
The trading volume increased strongly at the end of March and early April and reached an average of around $ 300 million every day after it had a low of $ 75 million on March 22. Cetus leads under the Dexs with over $ 40 billion cumulative volume, followed by Deepbook and FlowX.
SUI also claims its stable position with around $ 1.2 billion on Total Value Locked (TVL) in the Defi area and thus ranks ninth among all chains. This placement indicates that the chain continues to have potential for long -term growth.
Overall, the current developments and the technical indicators show that Sui has been well positioned in the past few weeks in order to record positive price movements in the near future.