The price of Sui (SUI) has increased by 105% in the past two weeks and is now considered one of the most outstanding assets in the cryptocurrency market. By maintaining just below the All-Time-High, SUI continues to demonstrate strong growth potential in the coming period.
Analyst Michael Van de Poppe recently called SUI the "best asset to buy" during the Bitcoin correction phase. The popularity of this altcoin among investors is very clear, as SUI is constantly mentioned on major platforms. The Open Interest (OI) in the SUI Futures Contract has also reached an All-Time-High of $826 million, reflecting the high demand and investor confidence.
The strong inflow of Capital into SUI reflects the overall optimism in the market. Traders see it as a reliable choice amidst the volatility of major coins like Bitcoin. This surge in attention has raised the visibility of SUI, making it a focal point for both individual and institutional investors.
The Chaikin Money Flow (CMF) indicator for SUI is currently maintaining a significantly higher level than the typical reversal threshold of 0.20 to 0.30. This indicates a strong inflow of Capital, reflecting the increasing interest from investors. History shows that reversals often occur when CMF reaches these levels, but the current breakout suggests exceptional growth potential.
This stable Capital inflow demonstrates the resilience of the asset and the continuous participation of investors. If this trend continues, SUI may attract even more Capital, solidifying its position as one of the fastest-growing altcoins in the market.
Currently, SUI is trading at $3.79, just slightly below the All-Time-High of $3.94 reached last week. With an impressive 105% increase, SUI has established itself as one of the best-performing cryptocurrencies this month.
With the current price momentum, SUI is likely to maintain its upward trend. The factors mentioned above all support the possibility of SUI setting a new All-Time-High record.
However, if market sentiment changes or profit-taking occurs, SUI may correct to the $3.20 support level. If the price drops below this level, the bullish outlook may no longer be valid.
You can view the SUI price here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
Join Telegram: https://t.me/tapchibitcoinvn
Twitter (X): https://twitter.com/tapchibtc_io
Tiktok: https://www.tiktok.com/@tapchibitcoin
SN_Nour
According to Beincrypto
