Analysis of the market position of $SUI : Bullish sentiment drives 60% of rebound hopes
SUI, the coin, has been in the limelight recently and is expected to rise sharply! If its daily closing price can exceed $3.5, it will be really amazing. It will soar 60% directly to $5.7!
Look at those traders, most of them are optimistic about SUI. 68.2% of the top traders chose to buy more, and only 31.8% chose to short. This data is simply a direct reflection of bullish sentiment!
Technical analysis also shows that SUI has now formed a bullish flag and extreme price behavior pattern. Once it breaks through, it will be a bird flying high in the sky. Experts have said that if SUI can stand at $3.5, then rising to $5.7 is a piece of cake.
Looking at the on-chain data, traders' enthusiasm for SUI is not covered. The long/short ratio of SUI on Binance is 2.14. What does this mean? It means that everyone thinks SUI can rise!
However, this market is not without risks. If the price drops to $3.326, there will be $10.5 million of long positions to be liquidated. Similarly, if it rises to $3.538, the $22.18 million of short positions will be in danger.
SUI is currently trading around $3.41, and it has fallen by more than 3.5% in the past 24 hours, and the trading volume has also decreased by 35%. What does this mean? Traders may be waiting to see if SUI can break through!
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