📈 $SUI Targets New All-Time High at $6 as Derivative Traders Turn Bullish

SUI price jumps 8.3% to $3.60 with a golden crossover. Can it reach the $6 ATH as network activity and trader interest surge?

With a bullish comeback for altcoins, SUI is among the fastest to gain momentum in the market. Currently, the SUI price is $3.60, reflecting an intraday gain of 8.3%.

As a golden crossover accompanies SUI’s bounce-back, bulls are anticipating a major rally. Could this lead to a new all-time high at the $6 mark?

🔸 SUI Price Analysis

Bouncing off the 23.60% Fibonacci level at $3.30, SUI has made a strong recovery. After a period of consolidation and indecisive price action in recent weeks, the broader market rebound has helped pump the SUI token.

🔸 SUI Price Chart

With a new bullish engulfing candle, the SUI token shows signs of a positive reversal from the $3.30 level. Additionally, the recent golden cross between the 50-day and 200-day EMA lines continues to serve as a bullish signal.

The ongoing recovery now hints at a bullish crossover between the 50-day and 100-day EMA lines, potentially restoring full positive alignment. As the uptrend builds momentum, the Chaikin Money Flow Index stands at 0.21, indicating a strong capital inflow. With a previous high near 0.40, the indicator suggests more room for growth.

🔸 SUI Price Targets

According to trend-based Fibonacci levels, the continued upside in SUI faces immediate resistance at the 38.20% level, which is around $4.63. However, if the bullish trend persists, the retracement pattern also points to a potential new all-time high at $6.

🔸 SUI Network Expansion Continues

As the market price climbs, the SUI network continues to expand rapidly. According to SUIScan, the SUI network has surpassed 10 billion total transactions. Meanwhile, total value locked (TVL) has reached $1.729 billion, inching closer to a new all-time high near $2 billion.

The total number of accounts has exceeded the 180 million milestone, reflecting sustained network growth.