After rising by over 3% in the past 24 hours, the SUI price has surpassed the popular altcoin, Avalanche, to secure the 11th position. As AVAX price displays weakness and Tron (TRX) price attracts marginal gains, SUI price has a huge opportunity to enter the top 10 cryptos. Meanwhile, this may consume more time than expected as the road to $20 billion appears to be a challenging task.
The Sui price chart is one of the strongest charts among the other cryptos in terms of price movements and also the volume concentration. The volume of the platform has been maintained above the average since the second half of 2024, which has kept the token volatile. Besides, the monstrous moves of the token have kept the traders highly vigilant. Therefore, the SUI price is speculated to continue with a bullish trend and mark fresh highs.
As mentioned above, the SUI price is trading within a rising parallel channel, which is considered the most bullish pattern as the cryptos follow a disciplined ascending price action. The Bollinger band formations suggest another bullish wave is fast approaching, as it has already expanded a couple of times within the channel and is ready for another one. Secondly, the RSI movement is one of the major reasons to be bullish on SUI, as it has not dropped below the average since August 2024.
Therefore, the SUI price, which has gained huge attention in recent times, is believed to flow according to the pattern and eventually test the upper resistance of the channel. Besides, the current trade setup suggests the next ATH for the SUI price rally could be somewhere around $6.02, which may be achieved in the first few days of the coming week. However, to enter the top 10, the SUI price is required to achieve a $10 milestone that may happen later this year.
