Price: $0.38171 -2.1272%
Market Cap: 56.03B 1.8871%
Volume (24h): 24.72B 0.4%
Dominance: 1.8871%
Price: $0.38171 -2.1272%
Market Cap: 56.03B 1.8871%
Volume (24h): 24.72B 0.4%
Dominance: 1.8871% 1.8871%
  • Price: $0.38171 -2.1272%
  • Market Cap: 56.03B 1.8871%
  • Volume (24h): 24.72B 0.4%
  • Dominance: 1.8871% 1.8871%
  • Price: $0.38171 -2.1272%
Home > Information news > SUI Price Could Top Soon: Here’s Why

SUI Price Could Top Soon: Here’s Why

Release: 2024/10/10 03:03 Reading: 885

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/6706ccb0277ca6388258ac4b

SUI Price Could Top Soon: Here’s Why

SUI Market Analysis: True Retail Long% Indicator Shows Potential Price Surge

Hyblock Capital's analysis highlights the importance of the True Retail Long% indicator in understanding SUI's market behavior. According to Hyblock, SUI ranks lowest in this metric, indicating limited retail interest in holding long positions.

This analysis suggests that when True Retail Long% falls below a critical threshold (around 35%), SUI's price tends to move towards its range top, signaling a potential peak. As of now, SUI's True Retail Long% is slightly above this threshold, but traders are advised to monitor it closely.

Historical Price Patterns

Hyblock's analysis reveals a consistent relationship between SUI's True Retail Long% and its price action. Historically, each time True Retail Long% has dropped below 35%, SUI has experienced a subsequent price rise towards its range top. For example, when the percentage dipped below 35% in the past, SUI's price surged above $2.10.

Potential Price Surge Indicators

The correlation between retail long positions and price peaks provides valuable insight for traders. If True Retail Long% drops below 35% again, SUI could potentially make another move towards its range top. This pattern has been observed multiple times, reinforcing the significance of retail long positions as an indicator of potential price increases.

Trading Implications

While SUI's True Retail Long% remains above the critical threshold, traders are advised to keep a close eye on this metric. Should it fall below 35%, history suggests that a price surge could be imminent. By monitoring True Retail Long%, traders can make informed decisions about their trading strategies.

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