Social feeling all around SUI it has skyrocketed in the past few days to unprecedented levels due to increased social media coverage across multiple platforms. This recent increase in interest reflects the growing support and enthusiasm from the active community, which reinforces SUI’s position in the crypto sector as a potential asset.
Massive Spike Pushes SUI Public Sentiment to Record High
Crypto expert and trader Ali Martinez, in a recent investigation, has identified a big change in interest among SUI investors and enthusiasts in recent days. Martinez reported that the volume of public exchanges focused on crypto assets is very high, indicating growing confidence in its potential in the short and long term.
It is worth noting that online discussions and activities around the altcoin have grown in line with the growing interest in the SUI ecosystem, contributing to a significant improvement in its community metrics.
According to market experts, the social metric has risen to new levels after a nearly 300% increase in the value of digital assets in the past month, which has attracted the attention of both. investors and traders. The price increase comes on the back of recent optimism across the crypto market, suggesting that the altcoin price may continue to see positive moves in the coming days.
However, Martinez emphasized that while there may be room for growth in the rally, the heightened attention from the market indicates that a price correction may be imminent in the short term. His insight comes after market experts identified the striking similarity between the current price trend of SUI in the ongoing cycle and that of Solana (SOL) in the 2021 cycle. “SUI looks like this Blame each other in 2021 before the bull runs,” he said.
After a close look at both stock charts on a weekly time frame, the analyst says that the SUI is showing the same pattern as SOL‘s strong growth in 2021, which suggests that the altcoin can repeat this trend in a significant bullish rise in the coming months.
How to Revise the Previous Top?
With its strong price performance, there are speculations that SUI is likely to retest its previous highs in the short term. Riccio Capital, an Asia blockchain and news provider, is bullish prediction after breaking out from a key resistance level.
According to the platform, the crypto asset has successfully broken resistance The level was set at $1.15181, which now serves as a new range of support. After the outbreak, Riccio Capital noted that the an altcoin it is currently looking at the next resistance level at $1.18106, which has a strong chance of retesting its high of $2.1778 soon.
Because of this, the platform has urged investors to look for the upcoming formation of the Golden Cross, a technical pattern that usually indicates an upward movement.
Featured image from Shutterstock, chart from Tradingview.com