SUI has seen a remarkable surge, with a 105% price increase in two weeks, hitting new all-time highs. This positions SUI as a standout performer in the crypto market. Currently, it trades just below its peak, indicating further potential gain.
Analyst Michael Van de Poppe highlights SUI as a great buy during Bitcoin's correction. SUI's popularity is evident as it trends on major platforms; its Open Interest in futures hit a record $826 million, signaling high demand and investor confidence.
The influx of capital into SUI reflects growing market enthusiasm, making it a stable option amid larger cryptocurrency fluctuations. SUI's visibility has been amplified for both retail and institutional investors.
SUI's strong momentum is further supported by its Chaikin Money Flow indicator, which is above the typical reversal range, indicating strong inflows and potential exponential growth.
This substantial investor participation suggests SUI may attract more capital, reinforcing its status as a high-growth altcoin. Analysts predict continued bullish momentum could lead SUI to surpass its recent peak.
However, a sentiment shift or profit-taking could pull SUI back to the $3.20 support level, which would challenge its bullish stance.
