Following a remarkable rebound in the digital currency market, major cryptocurrencies experienced a slight correction in their prices.<\/p>\n
During this period, Sui’s Layer-1 token has successfully retested its breakout zone and appears ready for a notable uptrend.<\/p>\n
Per analysis from CryptoCrypto, SUI exhibited bullish behavior as it surpassed a formidable resistance barrier at $2.05, forming a three-white-shoulder candlestick pattern on the daily chart.<\/p>\n
After this breakout, SUI witnessed a surge of almost 20%. Despite the ongoing correction, SUI has revisited this level and is now indicating an upward trajectory.<\/p>\n
Considering its historical price action, maintaining above $1.80 could potentially drive SUI up by 20% to hit $2.50 in the near future.<\/p>\n
In contrast, a failure to sustain $1.80 might lead to a substantial drop to around $1.40.<\/p>\n
Given the current market sentiment, it is likely that SUI will hold above the resistance level and see a significant increase in value soon.<\/p>\n
Coinglass, an on-chain analytics firm, supported this positive outlook for SUI. Their data showed a Long\/Short Ratio of 1.02, indicating bullish sentiment among traders.<\/p>\n
Furthermore, Futures Open Interest for SUI surged by 4.1% in the last 24 hours, indicating increased positions compared to the previous day, which is generally seen as a favorable signal.<\/p>\n
Presently, significant liquidation levels stand around $2.07 at the lower end and $2.166 at the upper end, indicating over-leveraged positions at these points, as per Coinglass.<\/p>\n
If prices rise to $2.166, around $4.52 million worth of short positions could be liquidated, assuming the current market sentiment persists.<\/p>\n
Conversely, a shift in sentiment leading to a drop to $2.07 could result in liquidation of approximately $7.35 million worth of long positions.<\/p>\n
This data suggests that bullish long positions substantially outnumber bearish short positions, indicating a prevailing positive sentiment in the market.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Following a remarkable rebound in the digital currency market, major cryptocurrencies experienced a slight correction in their prices. During this period, Sui’s Layer-1 token has successfully retested its breakout zone and appears ready for a notable uptrend. SUI: Evaluation of Crucial Levels Per analysis from CryptoCrypto, SUI exhibited bullish behavior as it surpassed a formidable<\/p>\n","protected":false},"author":1,"featured_media":27461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-27460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/27460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/comments?post=27460"}],"version-history":[{"count":2,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/27460\/revisions"}],"predecessor-version":[{"id":27463,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/27460\/revisions\/27463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/media\/27461"}],"wp:attachment":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/media?parent=27460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/categories?post=27460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/tags?post=27460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}