- SUI has gained 105% in the past two weeks, trading near $3.94.
- Open interest in SUI futures hit $826 million, reflecting strong investor demand.
- Chaikin Money Flow shows sustained inflows, signaling bullish momentum and growth potential for SUI.
SUI, a fast-rising altcoin, has drawn significant attention after rallying 105% in the past two weeks, making it one of the top-performing cryptocurrencies this month. The asset is trading at $3.79, just below its recent all-time high of $3.94, achieved over the weekend.
Investor Confidence Fuels SUI Momentum
The surge in SUI’s price has been accompanied by heightened activity in its futures market. Open interest reached a record $826 million, signaling growing demand from investors. Analyst Michael Van de Poppe described SUI as a strong buy during Bitcoin’s market correction, further boosting its popularity.
The Chaikin Money Flow (CMF) indicator, used to assess capital inflows, shows SUI maintaining levels well above typical reversal ranges, highlighting sustained investor participation. Historically, this indicator signals reversals when levels reach 0.20 to 0.30, but SUI’s breakout suggests the potential for exponential growth.
Source: TradingView
Market Outlook and Price Scenarios
With its recent momentum, SUI is positioned to continue its upward trajectory, potentially setting new highs if the bullish sentiment persists. However, analysts caution that a shift in market sentiment or profit-taking could prompt a pullback. In such a scenario, SUI’s critical support lies at $3.20, with a breach below this level potentially invalidating the current bullish outlook.
SUI’s strong performance, increasing visibility, and robust demand underline its emergence as a key altcoin to watch in the cryptocurrency market. Both retail and institutional investors are closely monitoring its next moves.
