Crypto
Sui Price Seeks Recovery Amid 609K Token Buybacks
The Sui (SUI) price is currently trading between its 200-day EMA and 50-day EMA, indicating a potential recovery. However, the chart needs convincing evidence to turn bullish.
The Sui Foundation's buyback program has surpassed 609,800 tokens, with the current treasury valued at approximately $490,000. The program uses native stablecoin yield to reclaim circulating supply from the open market.
If buyers strengthen their demand, SUI needs to sustain above $0.9650 to turn the daily trend bullish and potentially reach $1.05, followed by $1.6009.