Analyzing SUI’s market position: Bullish sentiment fuels 60% rally hopes

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SUI has formed a bullish price action pattern and is currently on the verge of a breakout. If this happens, it could propel SUI by 60%.

, the native token of the Sui network, is making waves in the rapidly evolving cryptocurrency landscape by outperforming major cryptocurrencies like

Based on the SUI daily chart, it appears that the price has already been corrected sufficiently to continue its rally further. According to the data, the Binance SUIUSDT Long/Short ratio currently stands at 2.14, indicating strong bullish sentiment among traders. At present, 68.20% of top SUI traders hold long positions, while 31.80% hold short positions.This data from an on-chain analytics firm indicates that traders are expecting prices to rally, which has the potential to attract more investors and traders in the coming days.As of now, the major liquidation levels are at $3.326 on the lower side and $3.

 

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