SUI Eyes Bullish Breakout As Crypto Traders Go Long Above $2 – What’s Next?
Sui (SUI) is poised for a potential bullish breakout, with traders anticipating a rise above $2. Current data shows a long/short ratio of 1.3, with 56.65% of traders holding long positions. Trading volume for SUI derivatives has increased by over 33%, and open interest has risen by more than 14%. In the last 24 hours, $5.14 million in short positions were liquidated compared to $1.58 million in long positions, indicating strong bullish sentiment. SUI has rallied over 100% in the past month, driven by increasing decentralized finance (DeFi) activity, with DEX volume up over 50% and Total Value Locked surpassing $1 billion. Predictions suggest SUI could reach between $2.20 and $2.50, marking a new all-time high. Currently, SUI is trading around $2, reflecting an 11% increase in the last 24 hours.
