From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Three days ago, SUI reached a new all-time high of $2.36, but Fear, Uncertainty, and Doubt (FUD) surrounding a recent development overshadowed the achievement.

Despite this, market investors remain confident that SUI will soon overcome the setback and break resistance levels again. This analysis explores the factors driving this sentiment and what SUI’s price could reach in the near term.

Traders Are Bullish on Sui Again

SUI’s price is currently $2.12, down 10.63% from its all-time high of $2.36 on October 14. The decline may be tied to rumors of a $400 million insider sell-off of SUI, a claim the Sui Foundation has denied.

During that time, the coin’s Funding Rate dropped into negative territory. The Funding Rate measures the difference between an asset’s perpetual futures price and its spot price. When the rate is high, traders favor long positions and are willing to pay to maintain them, reflecting bullish sentiment.

On the other hand, a negative Funding Rate signals bearish sentiment, as short positions dominate and traders are paying longs to hold their positions. Currently, the Funding Rate has returned to positive territory, indicating that traders have moved past the FUD and are now expecting a significant rebound for Sui.

Read more: Everything You Need to Know About the Sui Blockchain

In line with this outlook, the Balance of Power (BoP), which gauges the strength of buyers versus sellers, has risen. When the BoP drops, it indicates sellers (bears) are dominant, often leading to a price decline. 

However, an increasing BoP suggests that bulls (buyers) are outpacing the bears, which appears to be the case with SUI. This could signal that SUI’s price may climb above $2.11 in the short term.

SUI Price Prediction: New All-Time High Soon

On the daily chart, SUI seems to have solid support around $2.05. This level was vital to the initial move up to $2.36. With SUI’s price at $2.12, it appears that the same support is proving to be instrumental in cementing strength for the altcoin.

If this remains the same, SUI’s price is likely to surpass $2.36 within a few days. But that would only happen as long as bears do not tug the price back from $2.12. Should that happen, the altcoin’s value might climb by 20% and hit $2.55.

Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024

On the other hand, this forecast could be invalidated if SUI holders cash out before the price runs beyond $2.36. In that scenario, the cryptocurrency might drop back to the $2.05 support, and if it loses that level, it could decline to $1.84.