· 4 min read

Is It Too Late to Buy Sui Network? SUI Price Shoots Up 10% in 24 Hours and This New Crypto Startup Uses AI to Find the Next Low Cap Gem

Source / Sam Cooling x LucieLibalovaCZ

Sui Network (SUI) appears to be in the midst of a relief rally, after SUI pushed up +30% over the last week - but with upper trendline resistance stalling upside momentum - is it too late to buy SUI?

The relief rally comes amid a four-month tumble, which has so far seen a 70% decline since Sui Network launched on May 3.

However, while the SUI token has struggled to perform in a choppy market climate, the new layer-1 (which aims to deliver higher-speed smart contracts) has seen constant growth and development within the ecosystem.

Indeed, over the last week Sui Network's total value locked has grown by +26% in testament to the developers deeply committed to building out the emerging ecosystem.

SUI Price Analysis: Is it Too Late to Buy Sui Network?

As prices push-up, Sui Network is currently trading high in the channel, with SUI's market price standing at $0.59 (representing a 24-hour change of -1.36%).

The relief rally has seen a strong display of technical support, with a double-bottomed structure - first establishing footing at the lower trendline and then establishing a second support at the $0.50 price level.

TradingView / SUI USDT

This provided a brilliant launchpad for SUI to leap +24% this week, reclaiming its position atop the 20DMA in the process.

With price now saddling the 20DMA - a moving average that suppressed price action since July 23 - SUI could now have the footing it needs to mount a serious upside move.

But SUI isn't in the clear just yet; the $0.65 price level is critical to surmount first - an area that has displayed tough resistance in the past.

SUI's indicators reflect this lack of clarity, with the RSI heating up from oversold to neutral at 51 on the recent bounce - this could signal a need for a brief period of consolidation above the 20DMA.

However, the MACD continues to reflect the bullish technical structure at 0.0073, suggesting upside pressure could resume.

Overall, with a strong technical structure, all eyes are on $0.65 - will SUI break above the upper trendline and reclaim this price level or crumble under tough resistance? Only time will tell.

TradingView / SUI USDT

In the meanwhile, to the upside, SUI is facing a target at $0.66 (a potential +11.6%).

To the downside, a tumble here would likely catch support from the 20DMA at $0.56 (a possible -5.25%).

This leaves Sui Network with a risk: reward ratio of 2.23 - a strong entry dependent on a key resistance test.

Yet, while SUI bag holders breathe a sigh of relief, the best traders are already scouring the market for top-tier alpha to unlock gains on their next trade - and one tool surging with popularity is Launchpad XYZ.

Launchpad XYZ: Using the Power of AI to Find Your Next Big Trader

Source / Launchpad XYZ

There is just 5 days left to buy Launchpad XYZ (LPX), an innovative ecosystem designed to lower the entry barrier to Web 3.0 with user-friendly tools, insights, and analytics.

Whether you're a seasoned crypto user or just starting, this platform offers a range of features, such as NFT discovery, a decentralized exchange (DEX), a Web3 wallet, and utility token analysis.

At the heart of the Launchpad XYZ ecosystem lies the $LPX token - holders who stake a minimum of 10,000 tokens can reap numerous benefits, including substantial fee discounts, exclusive early access to NFT mint whitelists and presales, beta play-to-earn game launches, as well as cool community prestige badges.

The platform's intention to list LPX on major cryptocurrency exchanges is expected to drive significant demand for the token.

Following the introduction of its primary features in Q3 2023, Launchpad XYZ anticipates substantial user adoption.

With its maximum token supply of 1 billion, $LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it a platform to watch in the rapidly evolving crypto industry.

Given its comprehensive suite of features and ambitious vision, Launchpad XYZ is set to break barriers and redefine the crypto space.

As it facilitates an inclusive Web3 ecosystem, the $LPX token is proving itself a promising opportunity for investors. Whether you're new to the crypto world or a seasoned investor, Launchpad XYZ is one platform you can't afford to overlook in 2023.

Explore the latest Web3 presale projects, P2E Hub for gaming, the Metaverse Experience Library, and the Trading Terminal for an immersive experience.

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Don't miss out on the opportunity to invest in Launchpad XYZ, a promising project with the potential for significant growth. 

For more information, visit Launchpad XYZ today, also stay tuned with the project Twitter and Telegram to receive all of the latest updates and team news.

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.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.