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SUI: Here’s how THIS pattern could push the coin past $4
The cryptocurrency market has been experiencing a recent surge in value, and Sui (SUI) is no exception. According to AMBCrypto’s analysis, the token has seen an impressive 6.50% price increase within the last 24 hours, and it seems that this momentum could potentially push the coin past the $4 mark.
One of the key indicators of a potential rally in SUI’s value is its ability to maintain its position above the crucial $3 level. As long as this continues, it is possible that the coin could see a 24% increase, which would put its value at around $4.05.
The current market sentiment has shifted significantly in favor of bulls, with traders and investors betting heavily on the asset’s future growth. It is reported that over $25.5 million worth of long positions have been placed at the $3.11 level, indicating a strong buying pressure.
On the other hand, there are also reports of long-term holders offloading their tokens onto exchanges. A staggering $6 million worth of SUI has been dumped in the past 48 hours alone, which could potentially lead to some volatility and put downward pressure on the price.
However, if the trend continues and SUI maintains its above-$3 position, it is likely that we will see a massive upside momentum soon.
Source: ambcrypto.com
