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Josh Altons
Josh Altons

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πŸš€ Sui Price Hits New All-Time High, Backed by Historic $2 Billion Volume

πŸš€ SUI Hits New All-Time High
Sui ( $SUI ) reached a new all-time high of $2.37, with its trading volume surging to $2 billion for the first time since its May 2023 launch. This record volume reflects heightened demand and interest, driving the price upward.

πŸ“ˆ Volume Surge Signals Demand
Santiment data from November 6 shows this volume increase, marking a significant milestone for SUI. In cryptocurrency, rising volume often indicates increased investor engagement, suggesting potential for continued price growth as SUI gains momentum.

πŸ“Š Bullish Sentiment Among Traders
The Long/Short ratio from Coinglass has reached 1.09, signaling more traders are optimistic about SUI’s future. With 52% holding long positions, traders seem bullish despite recent market volatility. Some, like Crypto Doc, are even predicting SUI could reach $10 in the long term, highlighting a strong bullish outlook.

πŸ“‰ Technical Analysis Shows Uptrend
SUI’s price has moved above the 20-day and 50-day EMAs, indicating a bullish trend. If SUI continues this momentum, it may soon climb above $2.39 and potentially reach $3. However, if profit-taking increases, SUI could face a pullback to around $1.93.

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