- SUI hits $5.02 ATH, up 16.99%, surpassing SHIB, TON, XLM by market cap, eyes LINK next flip.
- Long/short ratio at 50.73% longs signals cautious optimism as SUI sustains bullish momentum.
- Technicals confirm bullish sentiment: DMI’s +DI at 22.11 outpaces -DI, and MACD shows a bullish crossover.
SUI has attained a new all-time high (ATH) of $5.20. As of press time, it has risen to $5.02, with a 24-hour increase of 16.99%. This remarkable performance has brought SUI into the top ranks in market capitalization ahead of SHIB, TON, XLM, and LINK placing it firmly in the spotlight.
UNI PA Analysis: A Strong Bullish Narrative
The price of SUI has increased in unconventional ways, and its movements can be described as having a bullish breakout pattern. This token cup-and-handle formation and breaking past the key resistance level at $4.79 highlight the great performance lately.
This pattern and a 137.84% increase in trading volume to $2.01 billion indicate higher market interest and strong buying pressure. Based on this movement, SUI has become one of the most promising tokens, and there is an expectation of a continuation of the price increase.
Source: TradingView
Long/Short Ratio: A Balanced Sentiment
The long/short ratio further reveals traders’ sentiment. At press time, the ratio of long positions is 50.73%, while the number of short positions is 49.27%, which shows moderate optimism among market participants.
Such a sentiment is balanced, highlighting an optimistic view on SUI’s further growth but cautioning against potential pullbacks. Nevertheless, the long positions suggest a increasing confidence among investors.
Source: Coinglass
Dogecoin Jumps 14% After Massive Transfer Sparks BullishnessSUI Technical Indicators: Bullish Signals Continue
SUI’s technical analysis corresponds to its strong price action. The Directional Movement Index (DMI) reveals the +DI line at 22.11, crossing above the -DI line at 18.11, indicating strong buy-side pressures.
Additionally, the MACD confirms the bullish sentiment with a crossover, as the MACD line of 0.16 crosses above the signal line of 0.12. These indications imply that the uptrend has not been broken, backed by the rising volume and the breakout above the resistance level.
Source: TradingView
Conclusion
The sharp increase in the price of SUI has now placed it as one of the leading tokens in the crypto market owing to technicals coupled by investors’ trust. The above $4.79 level has the breakout and the bullish cup-and-handle formation in place, which may offer more near-term advance.
