SUI Price Hits New ATH, Defying Skeptics
as Uptrend Strengthens
SUI has recently reached a new all-time high, continuing an upward rally that
began at $1.69 earlier this month. The cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта has managed to defy
bearish expectations, showing resilience as it pushes past the previous
resistance level.
The sustained growth is a challenge for those hoping for a price drop as SUI
gains momentum.
SUI Has All Kinds of Supporters
The market sentiment around SUI has been mixed. Funding rate data reveals that
many bearish investors have been betting on a decline, placing short contracts
in hopes of profiting from a price drop. Despite these bearish bets, SUI’s
rally and the newly achieved ATH suggest a stronger sentiment among bullish
investors.
While the funding rate fluctuates, it remains in positive territory, hinting
that confidence in SUI’s potential persists. However, bearish traders have not
backed down, as they continue to anticipate a reversal, betting against SUI’s
current trajectory.
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SUI Funding Rate. Source: Coinglass
From a macro perspective, SUI’s momentum remains strong. The Average
Directional Index (ADX), a key indicator of trend strength, currently sits
above the 25.0 threshold, signaling that the prevailing trend has gained
significant force. For SUI, this trend is upward, aligning with the broader
bullish sentiment seen in recent price action. With an ADX above 25.0, the
likelihood of SUI’s sustained growth increases, fueling speculation of further
gains.
SUI’s upward trend appears poised to continue if market support persists,
challenging the outlook of bearish investors. As long as the ADX remains
strong, SUI is likely to retain its positive momentum, leaving room for
additional price appreciation. For now, SUI remains an asset with potential
growth, with both technical indicators and market sentiment backing its
ongoing uptrend. SUI ADX. Source: TradingView
SUI Price Prediction: New Highs
SUI recorded a 9.75% rise in the past 24 hours, reaching a fresh all-time high
of $3.52. Although the gain was modest, this peak represents a notable step in
the altcoin’s ongoing upward trajectory.
Marking its sixth ATH in just one week, SUI is tracking closely with Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s
bullish trend. The cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта now has a strong support level at $3.20,
strengthening investor optimism for further growth. SUI Price Analysis.
Source: TradingView
Yet, if SUI fails to maintain the $3.20 support, the price could slip to
$2.85. This would undermine the current positive outlook and may lead to a
shift in investor sentiment.
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