SUI Price Prediction: Will the Altcoin Continue Its Bullish Momentum and Reach New ATHs?

SUI has surged significantly in price this month, climbing to new all-time highs over the weekend. The altcoin, which has gained 105% in the past two weeks

The price of SUI has surged this month, reaching new all-time highs over the weekend.

The altcoin, which has risen 105% over the past two weeks, is now one of the best performers in the crypto market. Currently trading just below its peak, SUI shows potential for further gains.

As Bitcoin corrects, what’s the best to buy? SUI, and here’s why.

According to analyst Michael Van de Poppe, SUI is the “best thing to buy” during Bitcoin’s correction phase. The altcoin’s popularity among traders is evident, with SUI trending across major platforms.

The Open Interest (OI) in SUI futures has also hit a record high of $826 million, indicating strong demand and investor confidence.

The rising capital flow into SUI reflects broader market enthusiasm. Traders are viewing it as a viable option amidst the fluctuations in larger cryptocurrencies like Bitcoin. This surge in attention has amplified SUI’s visibility, making it a focal point for both retail and institutional investors.

Moreover, SUI’s macro momentum is supported by its Chaikin Money Flow (CMF) indicator, which is currently positioned well above the typical reversal range of 0.20 to 0.30. This level signifies substantial inflows, signaling growing interest from investors.

Historically, reversals occur when the CMF reaches these levels, but the current breakout suggests the potential for exponential growth.

Such strong inflows highlight the asset’s resilience and sustained participation from investors. If this trend continues, SUI could attract even more capital, solidifying its position as a high-growth altcoin in the market.

SUI Price Prediction: New ATH in Sight

SUI is currently trading at $3.79, just below its all-time high of $3.94, which was achieved over the weekend. The altcoin has surged 105% this month, making it one of the best performing cryptocurrencies.

Given the ongoing bullish momentum, SUI is likely to hold its gains. The factors mentioned above do point towards SUI potentially setting a new all-time high if current trends persist.

However, a shift in sentiment or profit-taking by investors could trigger a drawdown. In such a scenario, SUI may fall to the $3.20 support level, and a drop below this would invalidate the bullish outlook.