SUI Takes Another Chance at a Bull Run As Altcoin Season Begins

• Sui hit a new all-time high propelled by the current bull run in the crypto market. 
• The altcoin’s daily trading volume surged by 55.15% as per CMC data.

Several altcoins are rallying in price movements over the past week. After Bitcoin claimed new All time highs thrice in the last few days, the cryptocurrency market has proceeded onto a full bullish trend. Almost every cryptocurrency has hit new trading levels rising from its previous slumps or retracing to previous highs. 

Notably, one particular altcoin that has taken to the spotlight multiple times is Sui Network’s SUI. Amid the Altcoin season beginning, as speculated by the community, SUI has once again shown signs of establishing a bullish comeback. Specifically, in the last 24 hours, the cryptocurrency has rallied 9.07% surpassing the $3 milestone. 

At the beginning of the day, the altcoin was trading at the $2.8 level before surpassing the aforementioned milestone. Additionally, SUI’s daily trading volume has also surged by 55.15%. At the time of writing, Sui was trading at $3.15 as per CMC data. 

Notably, the altcoin also hit a new ATH of $3.28 in the last 24 hours, surpassing its previous high that stood at $2.38. Contrary to other altcoins, SUI had initially begun its bull run during the month of September, although it was not linear. 

The altcoin witnessed several price dips that at times overshadowed the upward trend. However, SUI has now utilized the market momentum to pump its prices. This has once again drawn market attention to SUI. 

Will SUI Sustain its Bull Run? 

On inferring the technical indicators, the altcoin’s Chaikin’s Money Flow (CMF) value stands at a positive 0.30. This would highlight an increased flow of capital and subsequently, the existing upward trend. Furthermore, SUI’s bull power indicator value lies at 1.5, while its bear power indicator value holds at a low of 0.44. 

This further confirms the sustenance of the bull run. On the other hand, the cryptocurrency has also exhibited increased volatility as per TradingView data. Its RVI stands at a high of 83.11. Thus, in order to further confirm its bull run, SUI prices must steady from the current fluctuations.  

Meanwhile, other altcoins such as DOGE and Solana have also shown upward movements in the past few days. 

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