- SUI’s price increased by over 9% in the last 24 hours, rising from $1.87 to $2.04.
- SUI Network’s partnership with Google Cloud allows developers to access real-time blockchain data.
The native token of the Sui Network (SUI), a Layer 1 blockchain, has surged by over 9% in the past 24 hours, rising from a low of $1.87 to a recent high of $2.04. This price rally comes despite the global cryptocurrency market showing a downward trend, with top coins like Bitcoin (BTC) and Ethereum (ETH) trading in the red.
SUI’s rally was triggered by its recent integration with Google Cloud, a collaboration facilitated by ZettaBlock. This partnership allows developers to tap into real-time blockchain data through Google Cloud’s Pub/Sub service, opening the door for more innovative decentralized applications (dApps). Additionally, SUI developers gain access to valuable blockchain data via Google Cloud’s BigQuery public datasets, providing powerful tools for analytics and insights.
The integration is especially beneficial for AI applications that require constant access to fresh data to function optimally, as developers can now receive live data from the Sui blockchain in real-time. This technological advancement has played a role in boosting investor sentiment toward SUI.
SUI Price Performance and Market Outlook
Despite the recent price spike, SUI has had a mixed performance lately. Over the past week, its price has dropped by more than 3.5%. After hitting an all-time high of $2.36 on October 14, the crypto has declined nearly 13.56% to its current price of $2.04. This correction follows an impressive rally of over 120%. However, the altcoin holds a significant 35.50% gain over the past month.
SUI Price Chart (Source: TradingView)
On the technical front, the SUI/USDT daily chart shows a bullish crossover, where the 50-day moving average (MA) has crossed above the 200-day MA, hinting at a potential upward trend. Also, the Relative Strength Index (RSI) at 61.75 indicates growing buying momentum.
If this trend continues, the altcoin may target resistance at $2.18 and potentially rise above $2.25. However, any decline might lead the price toward key support levels around $1.94 and possibly lower to $1.65.
