news 
SUI Reaches New All-Time High, Flips SHIB, TON, And LINK
In a shocking turn of events, SUI has reached a new all-time high (ATH) of $5.20 as the price rose to $5.02, with a 24-hour increase of an astonishing 16.99%. This remarkable performance has catapulted SUI into the top ranks in market capitalization, surpassing SHIB, TON, and LINK.
The token’s chart analysis reveals a strong bullish narrative, as it has displayed an unconventional breakout pattern. The cup-and-handle formation and a successful break above the key resistance level at $4.79 highlights its extraordinary performance of late. A 137.84% increase in trading volume to $2.01 billion further underscores the increased market interest and buying pressure.
Furthermore, the long/short ratio has revealed moderate optimism among traders, with the percentage of long positions exceeding that of shorts by a margin of 50.73%. This sentiment suggests cautious optimism as investors become more confident about the token’s potential for continued growth.
In addition to its extraordinary price action, SUI’s technical indicators further confirm the bullish bias. The Directional Movement Index (DMI) shows an extreme buy-side pressure with the +DI line crossing above the -DI line at 22.11. Moreover, the MACD indicator has revealed a bullish crossover, suggesting that the uptrend remains unbroken and supported by rising volume.
In conclusion, SUI’s new all-time high and its ability to outperform other tokens in market capitalization is a testament to its remarkable performance and investor confidence.
Source: cryptotale.org
