Cryptocurrency SUI’s price failed to catch up with the market recovery on Wednesday and extended its decline to $0.8880. However, with a series of network integrations, the altcoin rebounded from this level and now appears to be starting a recovery process. SUI price surpassed $1. So, what can be expected next?
Sui Network Integrations in Progress
According to its official X account, the Sui network has several integrations lined up. Among these integrations, the collaboration with identity verification experts Netki Corp stands out. According to Sui, this partnership will contribute to making decentralized financial systems more secure, less costly, and more accessible.
Tools like DeFi Sentinel offered by Netki will allow developers to create projects without dealing with complex regulations in different jurisdictions. Additionally, with the integration of the Sui network, platforms like FanTV enable interaction and democratization for creators and users through artificial intelligence.
Sui is a Layer-1 Blockchain designed to make crypto asset ownership fast, private, secure, and accessible to everyone. These integrations could contribute to Sui becoming a scalable project. Moreover, Sui’s access to new markets could enhance its growth and competitiveness in the Blockchain ecosystem, positively impacting the SUI price.
SUI Price Recovering
SUI price has increased by nearly 20% over the last three days, maintaining the $0.8880 support level. However, the Relative Strength Index (RSI) remaining below the mid-level indicates that SUI is not yet suitable for buying. Investors considering taking long positions in SUI should wait for a three-day close above $1.1556 and see the RSI rise above 50.
Meanwhile, the market is still trending downward, and a stable close above $1.4305 will indicate a change in market dynamics. However, if investors start realizing their gains, the SUI price could pull back and fall below the $0.8880 level.
MACD‘s position in the negative zone does not support the bulls and indicates that the downtrend continues. In the worst-case scenario, SUI could potentially return to the $0.5000 level, which was last tested in November 2021.
