Sui Price Prediction: SUI Drops 3% As Bridge Mainnet Launch Nears As Traders Shift Focus To STARS ICO For Its 3534% APY

Sui Price Poised for Bullish Recovery

Over the past 24 hours, Sui has experienced a 3% price dip to $0.8658, accompanied by a 10% decline in trading volume to $337 million.

Sui Bridge Mainnet Launch Imminent

As the launch of the Sui Bridge mainnet draws near, the Sui Bridge incentive program has begun distributing rewards to participants via the official Testnet site.

Sui Network Announces Reward Availability

"Rewards from the Sui Bridge incentive program are now available to claim. Eligible participants can visit https://t.co/aD0sfh2mqp to redeem their rewards." (@SuiNetwork, August 15, 2024)

Key Focus Areas of the Sui Bridge Incentive Program

During the program, the Sui team has prioritized functionality, stress testing, security, and governance.

Sui Price Eyes Bullish Rally

According to data from GeckoTerminal, a four-chart analysis indicates a downward trend from $1.1 resistance to $0.82 support.

However, Sui remains well above its 200-day Simple Moving Average (SMA), suggesting an upward bias. A breakout above $0.888 could signal a rally towards $1.10.

Technical Indicators Support Bullish Outlook

The Relative Strength Index (RSI) has rebounded from below the neutral point, indicating increasing buying pressure.

Support and Resistance Levels

If the price dips below current levels, $0.78 (200-day SMA) serves as the immediate support. Conversely, if the bulls gain momentum, they may target $1.10.

Crypto All-Stars (STARS) Garners Attention

As Sui faces price fluctuations, a new meme coin, Crypto All-Stars (STARS), has garnered interest. STARS is reportedly offering substantial presale gains, having raised over $451K.

Crypto All-Stars Presale Details

The STARS token can be purchased for $0.0013855 each. However, an impending price increase suggests prompt action to secure the token at the current price.