Social mood around SUI has increased to unprecedented levels over the past few days as a result of increased community interaction across multiple platforms. This recent surge in interest indicates growing support and enthusiasm from a dynamic community, solidifying SUI’s position in the cryptocurrency sector as a potential asset.
Massive Spike raises SUI public sentiment to record levels
Cryptocurrency expert and trader Ali Martinez stated in a recent investigation quoted in recent days there has been a significant change in interest among investors and SUI enthusiasts. Martinez reported that the volume of social exchanges centered around the crypto asset is at an all-time high, reflecting growing confidence in its potential in the miniature and long term.
Notably, online conversations and activity around the altcoin have increased with growing interest in the SUI ecosystem, contributing to a noticeable improvement in its social metrics.
According to a market expert, the social indicator has reached a modern high after an almost 300% enhance in the value of the digital asset last month, attracting attention from both investors and traders. The price jump comes on the back of recent optimism across the cryptocurrency market, which suggests the altcoin’s price could continue to show positive moves in the coming days.
Martinez, however, stressed that while there may still be room for growth in the rally, the increased market attention indicates that a price correction may be imminent in the miniature term. His insights come from a market expert identified striking similarity between the current SUI price trend in the ongoing cycle and the Solana (SOL) price trend in the 2021 cycle. “It appears that SUI Solana in 2021, before the bull market,” he said.
After closely observing both asset charts on a weekly basis, the analyst finds that SUI exhibits a parallel pattern with SALTexplosive growth in 2021, suggesting that the altcoin could repeat this trajectory, leading to a significant upside rally in the coming months.
A path to retesting the previous all-time record?
Given the forceful price performance, there is speculation that SUI could retest its previous all-time high in the miniature term. Riccio Capital, an Asian blockchain and news provider, delivered gains forecast after breaking out from a key resistance level.
According to the platform, crypto assets have successfully broken through resistance level at $1.15181, which is currently the modern support range. After the breakout, Riccio Capital noted that altcoins it currently expects the next resistance level to be at $1.18106, with a high probability of a quick return to the previous high of $2.1778.
As a result, the platform urged investors to be on the lookout for an upcoming Golden Cross formation – a technical pattern that typically reflects a noteworthy upward move.
Featured image from Shutterstock, chart from Tradingview.com
