In trading and investing, what matters is not how much money you make, but how much money you don't lose.
The SUI project is a groundbreaking Layer-1 (L1) token aimed at filling the global adoption gap by providing powerful and scalable solutions. Furthermore, it has surged over 111.13% in the past month, garnering significant attention in the crypto space.
- SUI technical analysis and upcoming levels
- Bullish on-chain indicators
- SUI's current price momentum
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The entire cryptocurrency market is in a strong recovery. Within this, the SUI Layer-1 blockchain is poised for a significant rebound, as its on-chain indicators are flashing potential buy signals. Since early September 2024, SUI has shown an impressive 175% growth, and investors and traders are now heavily betting on this Layer-1 token.
SUI technical analysis and upcoming levels
According to CoinPedia's technical analysis, SUI appears bullish as it recently broke above the strong resistance level of $2.01 and is now marching towards new all-time highs. The recent breakout, coupled with the daily chart closing above the resistance level, has cleared the path for an upward rebound.
Based on the historical price momentum, SUI is likely to surge significantly and set new highs in the coming days. Despite the recent market volatility, SUI remains in an uptrend as it trades above the 200-day Exponential Moving Average (EMA) on the daily time frame.
Bullish on-chain indicators
On-chain indicators further support the optimistic outlook for SUI. According to data from on-chain analytics firm Coinglass, SUI's long/short ratio is currently at 1.688, the highest level since September 2024. This record-breaking ratio indicates that traders are holding a strong bullish sentiment in the market.
Additionally, its open interest contracts have increased by 21% in the past 24 hours and 4.2% in the past 4 hours. The increase in open interest suggests that traders may be taking on more long positions than short positions. Currently, 62.8% of the top traders hold long positions, while 37.2% hold short positions. This indicates that traders believe SUI is likely to surge significantly in the coming days.
Combining these on-chain indicators with the technical analysis, it appears that the bulls are currently in control of the asset and may support the upcoming upward rebound of SUI.
Sui's current market condition
- Price volatility: SUI's price has risen 60% over the past few weeks, but has fallen 4.4% in the last 24 hours, indicating market volatility
- Market sentiment: Despite the increase in long positions, the overall trading volume has dropped sharply, suggesting a decline in market participation, which may signal a price correction.
When considering buying Sui, it is important to take into account multiple factors such as market sentiment, price volatility, technical analysis, and make a cautious investment decision. Additionally, closely monitor market dynamics to adjust your strategy accordingly.
SUI's current price momentum
As of the time of writing, SUI's trading price is around $2.05, with a price increase of over 13.1% in the past 24 hours. During the same period, its trading volume has surged by 26%, indicating that trader and investor participation has increased amid the continued market recovery.
SUI Price Prediction for 2025
Considering the sustained bullish sentiment, the forecast for this altcoin in 2025 suggests that its price may reach a new all-time high, potentially reaching $3.56.
However, after a brief correction, it may reach a potential low of $1.21, with an average price of $2.38.
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