Key Insights:
- SUI’s Bollinger Bands reach their tightest level, signaling a potential breakout and 150-200% price surge.
- Over 1M new accounts created in 24 hours, showing rapid adoption and growing network interest.
- The analysis suggests strong upward momentum for SUI, boosted by Google’s partnership and rising volume.
SUI price action is currently generating significant interest due to its tightest Bollinger Bands ever. This is paired with the fact that SUI has reached a significant milestone of 220 million accounts, marking a notable achievement for the network. Analysts and traders are closely watching these developments, as similar patterns in the past have led to significant price increases.
Tightest Bollinger Bands in SUI’s History
SUI’s Bollinger Bands have been at their most compressed level since the cryptocurrency’s inception. This indicates a period of low volatility, which often precedes significant price movements.
According to market analyst CryptoBullet, Bollinger Bands are the tightest EVER in Sui’s history. The Bollinger Band Width (BBW) indicator, which tracks the space between the upper and lower bands, recently hit a 63 level, similar to levels seen before previous price surges of 253% and 404% in 2024.
A tight Bollinger Band typically suggests that the market is ready for a breakout, either upward or downward. Historically, such compression has been followed by significant price increases. With the current setup, many traders are anticipating a potential rally of 150-200%, which could push SUI’s price into the $6-$8 range.
SUI Reaches 220 Million Accounts
However, SUI has also achieved a significant milestone in user growth. According to SuiPad, the network recently surpassed 220 million accounts, showing rapid adoption and growing interest.
More than 1 million new accounts were created on the SUI network in just 24 hours. This surge in accounts reflects the network’s increasing popularity, possibly due to its unique features and growing ecosystem.
This growth in accounts is a positive sign for the long-term viability of the SUI blockchain. A rising number of users often correlates with increased network activity and demand for the native token, which could support further price increases.
Technical Analysis Shows Potential for Further Growth
Meanwhile, technical analysis of SUI’s price chart points to a bullish trend based on past patterns. The tight compression of the Bollinger Bands and increased trading volume are seen as indicators of potential upward momentum.
The price has recently surged from $3.50 to $3.62, following Google’s partnership for its Agentic Payments Protocol. The combination of strong fundamentals, user growth, and technical indicators could position SUI for further gains.
SUI’s recent price movement is backed by a significant increase in trading volume, signaling heightened investor interest. With the breakout, analysts are expecting further price increases, especially if SUI can hold its ground above $3.50 in the near term.
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Source: https://coincu.com/analysis/sui-hits-tightest-bollinger-bands-ever/