SUI price has grown by 27.82% in the last 30 days, driven by notable changes in its Total Value Locked (TVL). After a strong surge in both TVL and price, SUI appears to be entering a consolidation phase. This stabilization suggests a pause in the upward momentum, possibly indicating a period of market indecision.

The future direction could depend on whether SUI’s TVL sees renewed growth or remains stagnant, with a potential correction in play.

SUI TVL: Consolidation After a Strong Surge

SUI’s Total Value Locked (TVL) experienced an impressive surge, rising from $308 million on August 4 to $1.096 billion by October 14. This remarkable 255% growth over roughly two months stands out, especially for a protocol as substantial as SUI.

This growth was accompanied by a significant increase in SUI price itself, climbing from $0.46 to $2.36. That represents a staggering 391% growth in the same period.

However, following that surge, SUI’s TVL has shown signs of stability, consistently hovering around $1 billion without further gains since early October.

This plateau suggests that after the sharp rise in both TVL and price, SUI might be transitioning into a consolidation phase or potentially even gearing up for a correction, as the rapid growth appears to have cooled off.

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

SUI ADX Shows the Current Downtrend is Still Not That Strong

SUI’s ADX is currently at 16.82, indicating the strength of the current trend. With a value below 20, this suggests that the trend is still weak, implying limi

Go to Source to See Full Article
Author: Tiago Amaral