SUI price is showing signs of recovery as the indicators begin to improve. The coin is up almost 20% in the last 24 hours, but new gains could happen soon. Despite the TVL still being below $1 billion, recent inflows indicate renewed interest and engagement from users.

The BBTrend also suggests a potential shift from bearish to bullish, reflecting weakening downward pressure. Additionally, EMA lines hint at an upcoming “golden cross,” a positive signal for further upward movement.

SUI TVL Is Still Below $1 Billion

SUI’s Total-Value Locked (TVL) has reached $970 million, a major increase from $313 million on August 4.

Tracking TVL is essential for understanding the health of a blockchain ecosystem. A higher TVL often indicates greater adoption, user engagement, and liquidity. SUI’s TVL hit a record $1.1 billion on October 13 and stayed above $1 billion until October 22.

Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024

Despite now being below $1 billion, SUI’s TVL jumped by nearly $100 million in a single day, indicating renewed market interest. Such fluctuations show that users are still actively interacting with the platform, with substantial inflows that suggest confidence in SUI’s growth potential.

SUI BBTrend Appears to Be Recovering

SUI’s BBTrend is currently at -4.8. BBTrend, or Bollinger Band Trend, measures the strength and direction of a price trend based on Bollinger Bands.

A negative BBTrend indicates a bearish phase, suggesting downward pressure on price. Currently, SUI’s current level of -4.8 shows that it is still in bearish territory, but less so than in previous days.

SUI’s BBTrend has be

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Author: Tiago Amaral