Is $5 for SUI Just a Dream—or the Next Big Break Every Investor’s Been Waiting For?
Interestingly, the momentum does not seem to fade soon. Sui’s Relative Strength Index (RSI) is also hovering at an oversold territory, suggesting a potential reversal to shoot higher.
Source: TradingView
Derivatives positioning hints a bullish rally
In the derivatives market, the bulls are still in control. At press time, the Long/Short Ratio stood at 51%.
This suggested that investor in long positions were still dominant, reinforcing the confidence level on this anticipated bullish run.
Source: CoinGlass
The liquidation heatmap data from CoinGlass is adding more weight to the accumulating momentum. The metric indicated a concentration of stop-losses and liquidation clusters at around $4.4 price level.
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