SUI share price reaches all-time high after strategic cooperation

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Sui (SUI) is one of the best performing altcoins of the past week. The popular cryptocurrency reached a new all-time high of 5.30 USD after the network announced a strategic partnership on its official blog . The collaboration with Ant Digital Technologies focuses on the implementation of so-called Real World Assets (RWAs) on the Sui network. This application has the potential to attract new users, which could be beneficial for the future price development of Sui.

Strong price increase of SUI

The price of SUI was still below 4.30 USD last Friday, but it has since risen by more than 21% and is trading at 5.20 USD at the time of writing. This rise has also seen the altcoin climb higher in the rankings of the largest cryptocurrencies, reaching a market capitalization of more than 15.6 billion USD. This now places SUI in 13th place, just below Avalanche (AVAX).

Details of the Sui partnership

The partnership with Ant Digital Technologies focuses on integrating ESG (Environmental, Social, and Governance) assets onto the Sui blockchain via RWAs. This means that sustainable projects such as solar or wind energy, for example, are made accessible to investors via blockchain technology. Jameel Khalfan, Head of Ecosystem Development at the Sui Foundation, explains:

“Tokenizing the ESG market is an incredible step forward for real world assets. This partnership will give investors access to an entirely new market, all on the platform best suited for it: Sui,” Khalfan said on the Sui Foundation’s official blog.

Positive outlook for the SUI share price

The integration of ESG assets on the Sui blockchain could attract new users in the long term, which could further boost the price of Sui in the coming months and years. In addition, the collaboration with Ant Digital Technologies underscores the growing adoption of SUI at the institutional level, giving the project further credibility and momentum.

🚀 SUI Price Analysis – January 6, 2025

The SUI/USDT chart on the 1-hour timeframe shows a phase of consolidation following an impressive bullish rally. After reaching a local peak near $5.40, the price seems to have stabilized around the $5.20–$5.22 range, hovering near a key resistance zone.

📊 Key Observations:

Support Levels:
- Primary support at $5.00.
- Stronger support lies near $4.40–$4.60.
Resistance Levels:
- Immediate resistance sits around $5.25–$5.40.
- A breakout above could push SUI towards the $5.50 zone.
RSI (14, close):
- Value: 51.53
- The RSI is hovering near the neutral zone, suggesting neither strong buying nor selling momentum.
RSI-based Moving Average (MA):
- Value: 57.21
- RSI is currently below the RSI-based MA, indicating mild bearish pressure.

📈 Market Sentiment:

The volume has decreased, signaling market indecision and a lack of strong momentum from either bulls or bears.
The price is currently moving sideways in a narrow range, indicating a potential accumulation phase before the next significant move.

🔑 Key Takeaways:

Bullish Scenario: A breakout above $5.40 could spark another upward push, targeting $5.50 or higher.
Bearish Scenario: A breakdown below $5.00 could trigger a retracement towards the $4.60 region.

Final Note: Traders should monitor volume and RSI movements closely. A sharp increase in volume combined with an RSI breakout above 60 could validate the next directional move. 📊💹

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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