FxWirePro- SUIUSD (Chart of the day)

Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible.

Recent news -

Sui network partnered with Circle to launch USDC stablecoin on its network. It has unlocked 64.19 million (2.47% of circulating supply) on Sep 3rd  for community reserves and stake subsidies.

Transaction per second 297000

Time to finality - 400ms

SUIUSD recovered after a minor sell-off.

Any daily close above $2.20 confirms bullish continuation.

SUIUSD  jumped nearly 15%  this week. The pair holds well above the short-term (34 and 55 EMA) and long-term moving average. It hit a high of $1.2320 and is currently trading around $1.1636.

The bullish invalidation can happen if the pair closes below $0.45.On the lower side, the near-term support is $1. Any break below targets $0.74/$0.60/$0.45.

The immediate resistance stands at around $1.120.Any breach above confirms bullish continuation. A jump to $1.36/$1.4450/$1.60  is possible. A surge past $1.60 will take it to $2.

It is good to buy on dips around $1 with SL around $0.70 for TP of $1.60$.