Sui hit a new all-time high propelled by the current bull run in the crypto market. According to CMC data, the altcoin’s daily trading volume surged by 55.15%. Over the past week, several altcoins have seen price rallies. After Bitcoin reached new all-time highs multiple times in recent days, the cryptocurrency market has entered a full bullish trend. Almost every cryptocurrency has reached new trading levels, either recovering from previous slumps or retracing to previous highs.
Notably, one altcoin that has attracted attention multiple times is Sui Network’s SUI. As the altcoin season begins, SUI has shown signs of a bullish comeback. In the last 24 hours, the cryptocurrency has rallied 9.07% and surpassed the $3 milestone.
At the start of the day, SUI was trading at $2.8 before surpassing the aforementioned milestone. Additionally, SUI’s daily trading volume has surged by 55.15%. At the time of writing, Sui was trading at $3.15 according to CMC data.
Significantly, the altcoin also reached a new all-time high of $3.28 in the last 24 hours, surpassing its previous high of $2.38. Unlike other altcoins, SUI initially began its bull run in September, although it was not linear. The altcoin experienced several price dips that overshadowed the upward trend. However, SUI has now leveraged the market momentum to increase its prices, attracting attention once again.
The question now is whether SUI will sustain its bull run. Based on technical indicators, the altcoin’s Chaikin’s Money Flow (CMF) value is at a positive 0.30, indicating an increased flow of capital and the continuation of the upward trend. Furthermore, SUI’s bull power indicator value is 1.5, while its bear power indicator value is at a low of 0.44.
However, the cryptocurrency has also exhibited increased volatility, with an RVI of 83.11 according to TradingView data. To further confirm its bull run, SUI prices must stabilize from the current fluctuations.
Meanwhile, other altcoins such as DOGE and Solana have also seen upward movements in the past few days.
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