Binance enables USDC deposits and withdrawals on the Sui Network, boosting liquidity and transaction speed.
Users can now send and receive USDC on Sui directly via Binance, avoiding bridges and extra steps.
SUI’s higher low signals buying interest, with $3.50 as key resistance and $2.50 as critical support.
Binance, the world’s largest crypto exchange, has completed the integration of USDC on the Sui Network, enabling faster and more efficient transactions. The exchange has officially opened deposits and withdrawals for USDC on Sui. This expansion is expected to enhance liquidity, making the network more accessible.
Sui’s team acknowledged the development on X (formerly Twitter), highlighting its impact on smooth and direct transfers. SUI noted that users no longer need bridging because they can directly transfer and receive USDC.
The new integration improves the exposure of USDC across Sui’s network infrastructure. The stablecoin’s reliability supports broader adoption, improving user experience. Binance’s decision aligns with ongoing efforts to optimize blockchain networks.
With this update, Binance users benefit from seamless transfers at high speeds. In addition, the removal of additional steps simplifies transactions, reducing delays. Increased Sui Network activity is set to be seen as USDC adoption grows.
SUI Forms Higher Low as Market Eyes Key Resistance Levels
SUI’s daily chart is forming a higher-lower formation, suggesting increasing buying interest at stronger price levels according to analyst CryptoBullet. The key support level at the February 3 low matches the MA200 position, thus confirming an optimistic future trend. Recent market declines received support at the lower band of Bollinger Bands which confirms an upcoming price recovery.
Prices need to break the $3.50 barrier to create a path toward $4.00–$4.70 target levels. A short-term bearish trend is still signaled by the Parabolic SAR, but if prices climb higher, momentum would likely switch over to bullish. Additionally, the MA200 remains sloping upward, indicating overall strength.
The consolidation around $2.50 and $3.50 indicates institutional buyers have been accumulating SUI ahead of a prospective market bounce. A break above $3.50 would confirm bullish momentum, whereas a drop below $2.50 could bring further declines.
Will SUI Bulls Reverse the Downtrend?
Technical indicators on the daily chart suggest that SUI could be gearing up for a price reversal as selling pressure decreases. The Relative Strength Index indicators (RSI) and Chaikin Money Flow (CMF) indicators are now shifting to bullish.
A few sessions back, the RSI dropped to the oversold region and has recovered to the 39 index, heading to the neutral region. With further room for growth before reaching the overbought area, the bullish momentum would likely push the price above the $3.50 and $4.30 resistance levels.
Source:
TradingView
Furthermore, the CMF has climbed to the positive region, currently at $0.02, showing strong buying pressure. A positive CMF value suggests that capital inflows exceed outflows, indicating a strong accumulation.
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