News Formal

High Market Interest Could See SUI Break Out Of Ascending Triangle Pattern

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 25 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 68%

Cryptocurrency News

SUI,Cryptocurrency,Breakout

SUI price is showing bullish signs as open interest reaches a five-month high, potentially leading to a breakout from an ascending triangle pattern. Increased trading volume and a cluster of buy orders at the breakout price suggest strong investor confidence.

High market interest could see SUI break out of an ascending triangle pattern as open interest reached a five-month high.The surge in SUI trading volumes came as the price touched the upper boundary of the ascending triangle pattern on the one-day chart.

The Relative Strength Index at 64 shows that despite the influx of buyers, SUI is not yet overbought, and there is room for further growth. Separately, $1.17 was also a strong barrier as data from Hyblock Capital shows that there is an influx of liquidation orders at this price. If SUI approaches this level, the uptrend could weaken unless the buying momentum remains strong.revealed that open interest rose by more than 30% within 24 hours from $217 million to $270 million at press time.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How SUI flipped Bitcoin, Toncoin to potentially tap into THIS $113B marketSUI's growing adoption has pushed it to 3rd place in TVL among non-EVM chains flipping Bitcoin and Toncoin. This means that SUI will...
Source: CryptoAmb - 🏆 22. / 68 Read more »

Stock market today: Stocks rise as Powell says 'time has come' to begin cutting interest ratesInvestors are bracing for a pivotal speech by Fed Chair Jerome Powell that is likely to shape expectations on policy, the economy, and the future path of...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

UK Property Buyers Return to Market After BOE Interest Rate Cut(Bloomberg) -- Britain’s prospective home buyers stepped up their search for property after the Bank of England’s first reduction in interest rates since the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »