Sui (SUI) Price Prediction For February 5
After the sharp decline, the SUI (SUI) recovered a great recovery, and due to its bullish price operation within four hours, there was a huge rising momentum. Data show that after seeing more than 38 % of the price decrease, the altoscopic coins have soared by more than 55 %, restoring all losses.
64 % of SUI traders lasted for a long time
After this major price recovery, SUI’s emotions seem to have changed, because traders in the disk have been betting for a long time.
According to the chain analysis company Small shopBinance Suiusdt long/short ratio is 1.80, indicating that the trader’s bullish mood is strong. This ratio means that in every 1.80 positions, traders have a short position.
However, the data further revealed the top of 64 % SUI Binance’s traders are currently holding positions, while 36 % of their equity positions are held.
The interest of whales and investors is constantly rising
In addition to traders, long -term holders have also shown strong interest and confidence in tokens, because in the past 48 hours, global transactions have witnessed the SUI token worth more than $ 45 million in the exchanges worldwide.
In market recycling, this large amount of outflow indicates potential accumulation, which may cause purchase pressure and promote further rise, such as SUI.
The current transaction price of SUI is close to $ 3.76, and has experienced more than 6 % of the price increase in the past 24 hours. However, during the same period, its transaction volume fell 53 %, indicating that compared with the previous day, the participation rate of investors and traders decreased.
SUI technology analysis and upcoming level
Due to its bullish price action, people have appeared in such a strong interest and confidence in SUI. According to expert technical analysis, SUI has formed a bullish cup and handle mode, and prepares to break through.
Based on the historical price momentum, if the assets violate the neckline of this bullish model and close the four -hour candle of more than $ 3.80, then in the next few days, it is likely to soar by 30 %.
However, the mild resistance exists at the level of $ 4.20. The 200 index moving average (EMA) within four hours is formed, which may constitute the obstacles of the SUI rising rally.
