$SUI Trading volume soared 132%, is the bull market coming?
Recently, SUI has attracted a lot of attention. The price has risen, and the trading volume has also suddenly increased by 132.55%. The market confidence is getting stronger and stronger.
Let's take a look at the price first. SUI is now trading at $1.73, which is a 2.98% increase in 24 hours. This is a significant increase. Moreover, SUI is constantly testing important resistance levels, and the bullish sentiment is quite strong. However, we must be careful because the RSI indicator has reached the overbought range and there may be a risk of a short-term correction.
Let's talk about the trading volume. It's really amazing. It soared to $2.71 billion. This shows that the spot and derivatives markets are becoming more and more interested in SUI. Historically, such a surge in trading volume often leads to a sharp rise in price, so we have to pay close attention to changes in trading volume.
In addition, SUI's social dominance is also increasing, rising from 0.703% to 0.959% in 24 hours. This shows that SUI is becoming more and more popular in the cryptocurrency community and everyone is talking about it. Social media activity often indicates market trends, so the price of SUI may continue to rise due to everyone's attention.
Finally, the open interest of SUI derivatives also increased by 3.92% to $473.24 million. This shows that traders are becoming more and more confident about the future prospects of SUI. Open interest, trading volume, and social dominance are all increasing. This is simply a collection of bullish sentiment!
