Potential 35% Increase in SUI, But Analysts Say There Are Conditions!

Updated

May 2, 2025

Gambar Potential 35% Increase in SUI, But Analysts Say There Are Conditions!

Jakarta, Pintu News – Currently, the SUI cryptocurrency is at a tipping point with a price close to $3.70, accompanied by a $40 million outflow from exchanges and an increasing dominance of long positions. This analysis will delve deeper into the market dynamics affecting SUI and its potential future movement.

On-Chain Metrics that Illustrate Optimism

The latest data from Coinglass shows that there was a $40 million outflow of SUI from various exchanges in the last three days. This phenomenon usually indicates accumulation, where traders move coins to personal wallets, reducing supply on exchanges and selling pressure.

Additionally, the funding rate offset by Open Interest (OI) for SUI stands at +0.0066%, signaling bullish pressure from long position holders. Meanwhile, the Long/Short ratio of SUIUSDT on Binance is 1.33, indicating a strong bullish sentiment among traders. This is reinforced by data showing that 57% of SUI’s top traders on Binance hold long positions, while 43% hold short positions.

Also Read: Ripple (XRP) Moves $1.1 Billion, What Happened?

Technical Analysis and Price Action of SUI

Based on technical analysis, SUI is currently in a crucial situation that could trigger a price increase or decrease, depending on market sentiment. On the daily chart, the price of SUI appears to be consolidating in a narrow range between $3.27 and $3.83 over the past week.

This comes after a 75% rally, which was triggered by a breakout from the downtrend line. If SUI manages to close above $3.90 on the daily chart, it could confirm the breakout and target prices up to $5.50, a potential increase of 35%. However, failure to break resistance could invalidate the bullish thesis and trigger a price reversal.

Trading Volume and Market Participation

Currently, SUI is trading near $3.55, registering a gain of 0.75% in the last 24 hours. Trading volume has also increased by 15% over the same period, signaling renewed interest and stronger market participation. This increase suggests that there are more market participants involved in trading SUI, which could contribute to future volatility and price dynamics.

Conclusion

Looking at various on-chain and technical factors, SUI shows significant potential for price gains, but requires close monitoring of market sentiment and subsequent price action. Investors and traders should remain alert to changes in market conditions that could affect SUI’s prospects.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.