SUI Reaches New All-Time High of $3.52 Amid Bullish Momentum and Market Optimism

SUI recently hit a new all-time high, continuing its impressive rally that started at $1.69 earlier this month. This cryptocurrency is proving its strength by pushing past previous resistance levels.

This ongoing growth is tough for those hoping to see a price drop. SUI is gaining momentum, and it’s clear that it’s not slowing down anytime soon.

The market sentiment around SUI is mixed. Many bearish investors are betting on a decline, placing short contracts to profit from a potential drop. Yet, despite these bearish positions, SUI’s recent rally and new all-time high indicate that bullish investors are feeling more optimistic.

Even though the funding rate fluctuates, it stays in positive territory. This suggests that there’s still confidence in SUI’s potential. However, bearish traders remain active, expecting a reversal and betting against SUI’s current path.

From a broader perspective, SUI’s momentum looks strong. The Average Directional Index (ADX) is currently above the 25.0 threshold, which signals that the prevailing trend has gained significant strength. For SUI, this trend is upward, matching the overall bullish sentiment we’ve seen recently. With an ADX above 25.0, the chances of SUI maintaining its growth increase, sparking speculation about further gains.

SUI’s upward trend seems likely to continue if market support holds. This challenges the views of bearish investors. As long as the ADX remains strong, SUI is expected to keep its positive momentum, leaving room for more price appreciation. Right now, SUI is seen as a growth asset, supported by both technical indicators and market sentiment.

In the last 24 hours, SUI recorded a 9.75% rise, reaching a fresh all-time high of $3.52. While this gain is modest, it marks a significant step in the altcoin’s upward journey.

With its sixth all-time high in just one week, SUI is closely following Bitcoin’s bullish trend. The cryptocurrency now has a solid support level at $3.20, which boosts investor optimism for further growth.

However, if SUI can’t maintain the $3.20 support, the price could drop to $2.85. Such a decline would weaken the current positive outlook and may shift investor sentiment.