The social feeling around SUI has skyrocketed in recent days to an all-time high due to the increase in community interactions seen across multiple platforms. This recent surge in interest indicates growing support and enthusiasm from a vibrant community, strengthening SUI’s position in the crypto industry as a potential asset.
Massive spike pushes SUI social sentiment to record levels
Crypto expert and trader Ali Martinez, in a recent survey, has quoted a significant shift in interest among SUI investors and enthusiasts in recent days. Martinez reported that social trading volume centered around the crypto asset reached an all-time high, reflecting growing confidence in its short- and long-term potential.
It is worth noting that online conversations and activities around the altcoin have increased alongside the growing interest in the SUI ecosystem, contributing to a notable improvement in its social metrics.
According to the market expert, the social measure has reached new levels after an almost 300% increase in the value of the digital asset over the past month, attracting the attention of both. investors and traders. The price surge follows recent optimism around the broader crypto market, suggesting that the altcoin’s price could continue to see positive developments in the coming days.
However, Martinez emphasized that while there may still be room for growth in the rally, the increased market attention shows that a price correction could be imminent in the near term. His ideas come after the market expert identified a striking resemblance between the current price trend of SUI in the current cycle and that of Solana (SOL) in the 2021 cycle. “SUI looks like Solana in 2021, before the bull run,” he said.
After a thorough observation of both asset charts on a weekly time frame, the analyst claims that SUI shows a parallel trend with GROUNDThe explosive growth of 2021, suggesting that the altcoin could repeat this trajectory towards a significant bullish surge in the months to come.
How to retest the previous historical record?
Given its strong price performance, there is speculation that SUI may retest its previous all-time high in the near term. Riccio Capital, a blockchain and news provider in Asia, showed optimism prediction after a breakout of a pivotal resistance level.
According to the platform, the crypto asset has actually taken the plunge resistance level located at $1.15181, which now acts as a new support range. Following the breakout, Riccio Capital noted that the altcoin is currently eyeing the next resistance level at $1.18106, with a high probability of revisiting its past high of $2.1778 soon.
As a result, the platform urged investors to watch for the imminent formation of a Golden Cross, a technical pattern that typically reflects notable upward movement.
Featured image from Shutterstock, chart from Tradingview.com
