SUI Eyes $6 All-Time High as Bullish Momentum Builds
SUI has emerged as a top-performing altcoin, surging 8.3% intraday to $3.60, backed by strong technical and on-chain signals. The rally is being driven by a golden crossover—a bullish signal where the 50-day EMA crosses above the 200-day EMA—indicating renewed trader confidence.
Technical Analysis Highlights:
Support Rebound: Price bounced from the 23.6% Fibonacci retracement at $3.30, signaling strong buying interest.
Bullish Engulfing Candle: A key reversal pattern confirms upward momentum from support.
EMA Alignment: A 50/100-day crossover hints at a fully bullish setup on the horizon.
Chaikin Money Flow (CMF): With a current value of 0.21 and room to grow toward historic highs of 0.40, capital inflows remain strong.
Price Outlook:
Immediate Resistance: $4.63 at the 38.2% Fibonacci extension level.
Upside Potential: If momentum continues, SUI could reclaim its all-time high of $6, marking a significant breakout.
On-Chain Strength:
10B+ Total Transactions: A milestone in SUI’s network activity, according to SUIScan.
TVL Near ATH: Total value locked has climbed to $1.729B, approaching its $2B record.
User Growth: With over 180 million total accounts, user adoption is surging.
SUI’s combination of bullish technicals and rapid on-chain growth makes it a standout in the current altcoin cycle. A break above $4.63 could catalyze a run toward the $6 mark, positioning SUI as a key asset to watch.
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