#GateLive Space: Voice Chat on Crypto Trends! Sui Price Forecast: Bulls Eye New All-Time High of $6.35

Date: Fri, Jan 10, 2025

Sui has shown a strong recovery, gaining over 6% on Friday after experiencing a more than 10% decline earlier this week. This recent price action has sparked optimism among traders, and on-chain metrics suggest a potential rally could be on the horizon.

Key On-Chain Signals

Long-to-Short Ratio: The long-to-short ratio has reached its highest level in over a month, signaling increased bullish sentiment and positioning in favor of further upward movement.

Open Interest: Rising open interest also supports the possibility of a continued rally, indicating growing market participation and confidence in SUI’s potential.

Critical Support Level

To maintain the bullish outlook, Sui must hold above key support. A daily candlestick close below $4.45 would invalidate the current bullish thesis, suggesting a possible reversal or further consolidation.

Price Target

Sui bulls are aiming for a new all-time high of $6.35 as the price trends upward, supported by the favorable on-chain data and market structure.

Traders should closely monitor price action near $4.45 for any signs of invalidation, but if the bullish momentum holds, SUI could continue its ascent towards new highs.

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