SUI’s price hits new ATH to flip LINK, TON, XLM, and SHIB

SUI surged by by 17.85% to hit a new all-time high of $5.03
The altcoin’s market cap crossed the $15 billion-mark, with the crypto now ranked 12th

As a seasoned researcher who has witnessed the rise and fall of countless cryptocurrencies, I must admit that the recent surge of SUI is nothing short of astonishing. The altcoin’s meteoric rise from $4.2 to an all-time high of $5.03 in just 24 hours is a testament to its underlying strength and market appeal.

The fact that it has managed to flip established coins such as TON, SHIB, XLM, and LINK on the crypto-rankings charts is no small feat. This is reminiscent of the Cinderella story in the world of cryptocurrencies – a newcomer outshining its more experienced counterparts.

Looking at the technical indicators, SUI’s strong upward momentum and bullish sentiments are hard to ignore. Its Stoch RSI has surged to 81 since making a bullish crossover on New Year’s Eve, suggesting that the uptrend is intact and poised to continue. The rising +DI and declining ADX further confirm this bullish outlook.

However, as a cautious observer, I would advise investors not to get carried away by the hype. As they say, what goes up must come down. So, while SUI could potentially see more gains on its price charts, it’s important to remember that the crypto market is inherently volatile and unpredictable.

Lastly, let me leave you with a light-hearted thought – if SUI keeps up this pace, who knows, we might just witness the day when even Bitcoin takes a back seat! But for now, let’s wait and see, shall we? After all, in the world of cryptocurrencies, anything is possible, even Santa Claus mining Bitcoins!

In the past day, SUI has significantly outshone most of the cryptocurrency market. Remarkably, it climbed from a bottom of $4.2 to reach an unprecedented peak of $5.03. Currently, it’s being traded at $5.01 after a jump of nearly 18%. This surge has positively affected both its market capitalization and trading volume as well, with the former experiencing a rise of more than 17%.

The recent surge in market capitalization represents a major shift in the market. Notably, this growth has caused SUI to overtake well-established cryptocurrencies like Ton, Shiba Inu, Stellar, Litecoin, and Chainlink on the crypto rankings.

Currently, Chainlink (LINK) is mirroring SUI’s steps, boasting a market capitalization of approximately $14.82 billion. Following closely behind are Toncoin (TON) at around $14.6 billion, Shiba Inu (SHIB) with an estimated $14.46 billion, and lastly, Stellar (XLM) at slightly less than $14.1 billion.

Hence, the question – Can SUI can sustain its uptrend?

Will the rally go on?

As a crypto investor, I’ve noticed that based on my own analysis and AMBCrypto’s insights, the SUI token seems to be gaining substantial positive traction. The market around it is brimming with optimistic vibes.

The strong upward trend appears to be continuing as its Stochastic RSI (Relative Strength Index) has consistently risen, reaching 81 recently after a bullish crossover on New Year’s Eve. This suggests that the upward trajectory remains solid and is likely to persist further.

This can also be supported by an increasing Directional Movement Index (DMI), as it ascends to 21, while the Average Directional Index (ADX) decreases to 18.

Furthermore, the optimistic sentiment in the market is reflected in a greater number of traders choosing to go long on their trades.

In terms of a 4-hour time frame, approximately half of all investors are choosing to hold long positions. This suggests that these traders are optimistic and believe that prices will continue to rise.

In summary, the overall funding rate for SUI has become positive within the past 24 hours. This indicates that the prices of future contracts are more expensive than the current market value, suggesting that there is growing optimism among traders which might lead to a further rise in the futures market.

What lies ahead for the altcoin?

To wrap up, it appears that SUI has transitioned into a bullish trend, sparking excitement among investors who expect further growth. Moreover, the fact that SUI managed to surpass several other altcoins simultaneously indicates its robustness within the market as well.

Hence, the altcoin could see more gains on its price charts.

2025-01-04 19:03

SUI’s price hits new ATH to flip LINK, TON, XLM, and SHIB – What next?

Will the rally go on?

What lies ahead for the altcoin?

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