- SUI trades at $3.30 with $781M daily volume; golden cross signals potential 380% rally.
- $96M short positions risk liquidation at $3.48, triggering a bullish short squeeze scenario.
- Key resistance at $4.30; breaking it could propel SUI toward the $5.90 all-time high target.
Sui has recently triggered a golden cross pattern on its daily chart, historically linked with strong rallies. If the Q4 2024 bull fractal unfolds as expected, this could ignite a massive 380% price surge. The bullish signal emerges as Sui’s blockchain growth accelerates with notable user engagement.
Currently, SUI trades at $3.30 with a daily trading volume of $781 million, per CoinMarketCap. A confirmed golden cross encourages optimistic outlooks, suggesting buyers may soon reenter the market. Momentum-driven accumulation could further reinforce the bullish trend and add weight to the ongoing rally attempt.
Breakout or Correction: SUI’s Next Move
SUI nears a critical inflection point with approximately $96 million in short positions vulnerable to liquidation. Analysts predict that if the price hits $3.48, a wave of forced short-covering could follow, pushing SUI even higher. This scenario sets the stage for a sharp squeeze that benefits bullish traders.
However, despite a 12% price rise, caution remains. The Chaikin Money Flow (CMF) indicator stays below zero, signaling weak institutional inflow. The discrepancy between price action and money flow suggests that recent gains may not have strong backing, urging traders to remain alert to volatility.
The $3.33 level has turned into a fierce battleground between bulls and bears. A breakout could quickly lift the token toward the $3.48 liquidation level, intensifying market movements. However, failure to hold this level could lead to a correction toward $3.13, or possibly drop further to test support around $2.91.
Key Resistance Zone at $4.30
The SUI golden cross trigger surged from $1.09 to $5.35, indicating the increase of 380%. The same crossover is emerging again, raising hopes for another major rally. For this rally to gather strength when SUI makes an attempt to pass the expected resistance area of $4.30.
If a break above $4.30 happened, it could reach the 161.8% Fibonacci extension level at $5.90, makin a potential new ATH. The news from the technical analysis is that the moving averages’ lines have crossed upwards, but for confirmation, the Relative Strength Index (RSI) may cross also 50, meaning that the force of the buyers is strong and continuous.
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