Meteoric SUI Rise: Surging Inflows and Trader Confidence Drive Momentum
In just nine days, SUI’s open interest has quadrupled, rising from $679 million to $1.26 billion. This dramatic increase demonstrates the fervor among traders, many hopeful that the asset will reach a new all-time high. The rising capital inflows into SUI point to sustained support motivated by high return expectations. This increased interest may cause the price of SUI to rise sharply in the days ahead. As SUI gets closer to its ATH, the traders’ confidence reflects a wider belief in the asset’s potential, offering a solid basis for ongoing positive momentum.
SUI Eyes New Heights: RSI Bullish Momentum Points to Potential ATH Breakout
SUI is bullish according to technical indicators, with the Relative Strength Index (RSI) being stable in the bullish zone. In recent days, the RSI has maintained its position above the neutral line of 50.0, indicating that buyers are outpacing sellers in terms of momentum. Continued optimism may act as a stimulant for additional price increases.
However, SUI is now less than 6% away from surpassing its past high of $5.36. The altcoin’s ability to bounce back from the $4.79 support level indicates that it may continue to rise if positive circumstances remain. SUI’s stock may break through its all-time high and reach new heights, rewarding investors if the current environment holds up. However, whether this rise is sustainable will be greatly influenced by the state of the market as a whole.
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