Sui Blockchain Unleashes Major Upgrade as SUI Price Hovers Near Key Level

The Sui blockchain has rolled out a major upgrade to its mainnet, now operating on version 1.49.2 with protocol version 84. This latest development introduces network improvements aimed at strengthening performance and user trust during periods of heightened activity.

To manage traffic more effectively and minimize delays, the upgrade introduces a congestion control mechanism. This feature is designed to maintain network stability during periods of high activity.

Transaction efficiency has also been optimized, enabling smoother operations even during network surges. By improving how the protocol handles transactions, the Sui network aims to offer consistent reliability for developers and users.

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SUI Token Stabilizes as Bulls and Bears Eye Critical Price Levels

Following the upgrade, the SUI token is consolidating near a crucial support zone of around $3.20. The token has pulled back significantly from its May highs of $4.95 and is now trading within a tight range.

Fibonacci retracement levels plotted between the swing low at $3.11 and the recent high suggest resistance at $3.55 and $3.81. These zones are significant for any possible short-term improvement in the market.

According to the Balance of Power indicator, pressure remains on the sellers, so their strength outweighs that of the buyers. The MACD sits close to the zero line, revealing that momentum is absent but open to growing in favor of the bulls when demand increases.

Should prices go higher than $3.55, possible aims might be at $4.03 and $4.25. If the $3.11–$3.20 range is not protected, the asset could drop to the $2.80 level reached during March.

Even though the new update marks progress, traders’ reaction has been mild. People are hungry to see if these updates will help recover SUI value.

The recent protocol upgrade may improve Sui’s long-term outlook, but the token’s price remains at a critical juncture. Market participants are now watching for confirmation of momentum following the update.

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