Sui recently reached a new all-time high, driven by the ongoing bull market in cryptocurrency. According to CMC data, the altcoin’s daily trading volume rose by 55.15%. Many altcoins have been on an upward trajectory in the past week, following Bitcoin’s recent string of all-time highs. This bullish momentum has seen most cryptocurrencies hit new levels, either recovering from previous declines or returning to prior peaks.
One standout among these is Sui Network’s SUI, which has frequently captured market attention. As the anticipated “altcoin season” begins, SUI is once again making a bullish comeback. Over the last 24 hours, the cryptocurrency rose by 9.07%, breaking the $3 mark.
Starting the day at $2.8, SUI went on to surpass this level and saw its daily trading volume spike by 55.15%. At the time of writing, SUI was priced at $3.15, per CMC. In the past 24 hours, SUI also reached a new all-time high of $3.28, surpassing its previous peak of $2.38. Unlike other altcoins, SUI began its bull run back in September, although its progress was not consistent.
The altcoin encountered several price drops, temporarily masking its upward trend. Now, with renewed market momentum, SUI has gained traction again, drawing further attention.
Can SUI Maintain Its Bullish Momentum? Analyzing technical indicators, SUI’s Chaikin Money Flow (CMF) is at a positive 0.30, signaling increased capital inflows and supporting the current uptrend. Additionally, SUI’s bull power indicator reads 1.5, while its bear power indicator is relatively low at 0.44.
The SUI/USDT daily price chart from TradingView further supports this trend, though it also indicates heightened volatility, with the Relative Volatility Index (RVI) at 83.11. For SUI to confirm its bull run, the price may need to stabilize amid these fluctuations.
Elsewhere, other altcoins like DOGE and Solana have also shown positive price movement in recent days.
