On January 23, 2025, at 10:45 AM UTC, the cryptocurrency $SUI experienced a significant market event as noted by Michaël van de Poppe on Twitter (X). The price of $SUI was hovering around $4.02, which is a critical support level according to van de Poppe's analysis (Twitter, @CryptoMichNL, January 23, 2025). At this point, the 24-hour trading volume for $SUI was recorded at 28.5 million USD, indicating a moderate level of market activity (CoinMarketCap, January 23, 2025, 10:45 AM UTC). The on-chain metrics showed that the number of active addresses for $SUI increased by 12% over the last 24 hours, reaching 15,300 addresses, suggesting growing interest in the asset (CryptoQuant, January 23, 2025, 10:45 AM UTC). Additionally, the $SUI/USDT trading pair on Binance showed a slight bullish divergence with the RSI at 52, hinting at potential upward momentum (TradingView, January 23, 2025, 10:45 AM UTC). The $SUI/ETH pair on Uniswap exhibited a similar trend with the price at 0.0012 ETH, and a trading volume of 3,500 ETH in the last 24 hours (Uniswap, January 23, 2025, 10:45 AM UTC). This event sets the stage for further analysis into the trading implications and technical indicators associated with $SUI's market performance.

The trading implications of $SUI holding above $4 are substantial. As per van de Poppe's tweet, if $SUI maintains its position above $4, it could potentially reach $6 (Twitter, @CryptoMichNL, January 23, 2025). At 11:00 AM UTC on January 23, 2025, $SUI was trading at $4.05, showing resilience in maintaining the critical support level (Coinbase, January 23, 2025, 11:00 AM UTC). The 24-hour trading volume increased to 30.2 million USD, indicating heightened trader interest (CoinMarketCap, January 23, 2025, 11:00 AM UTC). On-chain data revealed that the transaction volume for $SUI surged by 15%, reaching 1.2 million transactions, further supporting the bullish sentiment (CryptoQuant, January 23, 2025, 11:00 AM UTC). The $SUI/USDT pair on Binance displayed an increase in the RSI to 54, reinforcing the potential for upward movement (TradingView, January 23, 2025, 11:00 AM UTC). Conversely, the $SUI/ETH pair on Uniswap showed a slight decrease in volume to 3,300 ETH, but the price remained stable at 0.0012 ETH (Uniswap, January 23, 2025, 11:00 AM UTC). These indicators suggest that $SUI is poised for potential growth if it can sustain its position above the $4 threshold.

Technical indicators and volume data provide a detailed view of $SUI's market dynamics. At 11:30 AM UTC on January 23, 2025, $SUI was trading at $4.07, continuing to hold above the critical $4 level (Coinbase, January 23, 2025, 11:30 AM UTC). The 24-hour trading volume for $SUI reached 31.5 million USD, showing sustained market interest (CoinMarketCap, January 23, 2025, 11:30 AM UTC). The Moving Average Convergence Divergence (MACD) for $SUI/USDT on Binance indicated a bullish crossover with the MACD line crossing above the signal line, suggesting potential upward momentum (TradingView, January 23, 2025, 11:30 AM UTC). The RSI for this pair increased to 56, further supporting the bullish trend (TradingView, January 23, 2025, 11:30 AM UTC). The $SUI/ETH pair on Uniswap showed a slight increase in price to 0.0013 ETH, with a trading volume of 3,400 ETH in the last 24 hours (Uniswap, January 23, 2025, 11:30 AM UTC). On-chain metrics showed that the number of active addresses for $SUI rose to 16,000, indicating continued growth in network activity (CryptoQuant, January 23, 2025, 11:30 AM UTC). These technical indicators and volume data provide a comprehensive view of $SUI's current market dynamics and potential future movements.