Sui (SUI) achieved a new all-time high, reaching $2.37, bolstered by an unprecedented trading volume of $2 billion. This surge highlights increased investor interest and engagement for the altcoin.
Fueling optimism, traders anticipate the continuation of Sui's upward price momentum. The recent rise in volume indicates robust demand, suggesting that further price escalations are likely.
Along with optimistic market sentiment, the Long/Short ratio has climbed to 1.09, revealing a shift in investor expectations. Notably, the majority holds bullish positions on SUI.
Prominent traders, like Crypto Doc, foresee SUI attaining significant long-term value, with potential to hit the $10 mark amidst ongoing market dynamics.
On technical indicators, SUI has surpassed its 20-day and 50-day EMAs on the daily chart, suggesting a bullish trend and potential for additional gains beyond its recent peak.
However, potential profit-taking by investors might risk a price drop to $1.93, counteracting the bullish sentiment if triggered.
