Sui Market Position Analysis: Bullish Sentiment Fuels Hopes for a 60% Rally
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68.20% of leading SUI traders are currently holding long positions compared to 31.80% opting for short positions.
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Traders exhibit high leverage levels at $3,326 on potential declines and $3,538 on potential gains.
SUI, the primary token of the Sui network, is making headlines in the fast-paced cryptocurrency world by outperforming significant cryptocurrencies such as Bitcoin [BTC] and Ethereum [ETH], along with other major financial assets.
The altcoin shows strong momentum and is likely to maintain this upward trajectory as it has established a bullish price action setup.
SUI Technical Analysis and Critical Levels
Experts indicate that SUI has established a bullish flag and pole price pattern on its daily time frame, nearing a breakout from this configuration.
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If SUI manages to close above $3.5 for a daily candle, there’s potential for a 60% price increase in coming days towards $5.70. The daily chart indicates that SUI’s price corrections have been sufficient to support further rallies; additionally, its Relative Strength Index stands at 58.60 suggesting room for upward movement before hitting overbought conditions. span >
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Bullish On-chain Metrics b >
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As per analytics firm Coinglass data insights, Traders are actively engaged with Binance in influencing price movements of this token.
Current data reveals that Binance’s USDT-SUI long/short ratio is positioned at 2.14,
indicating robust bullish sentiment among participants.
Currently,
68.20% of top-tier traders pursue long investments while only
31.80%
engage in shorts. p >
Source: Coinglass.This information points out trader expectations of impending rising prices which may entice more activities from investors going forward.
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Liquidation Levels Are CriticalAt This Threshold:
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knowledge suggests substantially regarding investor(s) await **breakout catalysts** *(deliberating routes finally!)*
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