Will SUI Price Recover to Fresh All-Time High after Today’s 10% Drop?

SUI SUI $4.49 24h volatility: 6.8% Market cap: $13.51 B Vol. 24h: $2.16 B , the native cryptocurrency of the Layer-1 Sui blockchain network, has come under strong selling pressure amid the broader market sell-off. Despite today’s 10% fall, the SUI price charts and technical setup show potential to hit a fresh all-time high.

As of press time, the SUI price is trading 9.68% down at $4.38 with daily trading volumes shooting up 82% to $1.63 billion. As per CoinGlass data, the 24-hour liquidations have shot past $10 million, with more than $9 million in long liquidations.

Over the past ten days, the SUI funding rate has remained positive showing continued optimism among traders despite the recent price drop. The sustained outlook suggests that market participants are eyeing an SUI price recovery and a potential new all-time high ahead. The bullish sentiment within the SUI community could provide the momentum needed for a rebound.