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SUI’s price has taken a surprising turn in the last 24 hours, as it surged by over 5% to reach $4.23. But what does this mean for its future trajectory?
To provide some context, SUI’s Social Volume had been declining sharply over the past few days. This typically signals a price drop towards $3.37. However, the latest increase has raised concerns about whether this downtrend can be reversed.
According to data from Santiment, despite the recent surge, trading volume has actually dropped, which could trigger a bear rally. Moreover, its Social Volume also declined amidst a bull run, which is not typical behavior and may indicate that selling pressure is rising.
Source: ambcrypto.com
