Ali Charts has revealed that the launch of the Mysticeti upgrade has driven the SUI network to its highest level of positive weighted sentiment to date, which is super bullish for the token.
The Mysticeti upgrade was implemented to make improvements. It significantly enhances transaction speed while reducing CPU requirements for validators. The upgrade also improves SUI’s low latency performance for all transaction types across its network.
The recent launch of the Mysticeti Upgrade drove the #Sui $SUI Network to its highest level of positive weighted sentiment to date. pic.twitter.com/iPpWeUiu4V
— Ali (@ali_charts) August 22, 2024
Read Also: Where Is Injective (INJ) Price Headed Next Following +40% Rally?
TD Sequential Indicator Shows Buy Signal
SUI’s price action is also showing that the TD Sequential Indicator on the weekly chart is bullish. Ali Charts also revealed through a post on X that a close above the 50-week moving average could make the price spike by 30% to around $1.2.
A close below may be slightly bearish for SUI’s price.
The RSI is at 65 after being overbought a few days ago. We could see a little retracement before the bullish trend continues.
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The post Sui Network’s Mysticeti Upgrade Triggers Super Bullish Metrics, But SUI Price Rally May Be Delayed: Here’s Why appeared first on CaptainAltcoin.
