Crypto Express

07/29 02:55

SUI Crypto Price Stages Strong Breakout, Eyes $8

Crypto analyst Ali Martinez has noted that SUI has broken out of a symmetrical triangle pattern on the daily chart, signaling a potential bullish continuation. Based on the breakout, Martinez projects a price target of $8, suggesting significant upside from current levels.

Following the recent breakout to $4.2, the SUI market cap has surged to $14.59 billion. Thus, it became the 12th-largest crypto, leaving behind Stellar (XLM), Chainlink (LINK), and Hedera (HBAR).

Additionally, the Sui daily trading volumes have also surged by a staggering 18% to more than $2.58 billion. That suggests solid bullish sentiment among traders.

As per the CoinGlass data, the SUI futures open interest is also up by 10%, surging past $2.7 billion. It shows traders are bullish about the future price action. Furthermore, the 24-hour SUI liquidations have soared to $5.15 million.

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