SUI, an altcoin, has recovered significantly after a sharp fall and has regained all its losses, indicating a shift in sentiment among intraday traders who are now betting on the long side. On-chain analytics show a strong bullish sentiment among traders, with a long/short ratio of 1.80. Furthermore, long-term holders are also showing confidence in SUI, as there has been an outflow of $45 million worth of SUI tokens in the past 48 hours, suggesting potential accumulation. SUI is currently trading around $3.76 and has experienced a price surge of over 6% in the past 24 hours. Technical analysis suggests that SUI could experience a breakout and potentially soar by 30% if it breaches the neckline of a bullish cup and handle pattern. However, there is mild resistance at the $4.20 level, which could hinder SUI's upside rally.



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