Sui Price Forecast: SUI bulls aim for 15% gains as open interest and bullish bets increase among traders :

Sui’s price extends gains by nearly10% on Thursday, approaching a key resistance level at $3.65; a decisive close would signal further gains ahead.
On-chain data hints at a bullish outlook as SUI’s Open Interest and bullish bets among traders are rising.
Adidas’s recent collaboration with XOCIETY, a flagship Web3 game on Sui’s blockchain, enhances its adoption, ecosystem growth, and token utility.
Sui’s price extends gains by nearly10% on Thursday, approaching a key resistance level at $3.65; a decisive close would signal further gains ahead.
On-chain data hints at a bullish outlook as SUI’s Open Interest and bullish bets among traders are rising.
Adidas’s recent collaboration with XOCIETY, a flagship Web3 game on Sui’s blockchain, enhances its adoption, ecosystem growth, and token utility.
Sui’s Open Interest reaches a new all-time high
Coinglass’ data shows that the futures’ OI in SUI at exchanges rose from $1.39 million on Monday to $1.62 billion on Thursday, a new all-time high. An increasing OI represents new or additional money entering the market and new buying, which could fuel the current rally in the Sui’s price.
Another bullish sign is Coinglass’s SUI long-to-short ratio, which reads 1.09, the highest level in over a month. This ratio above one reflects bullish sentiment in the markets as more traders are betting on the asset price to rise.
Earlier on Tuesday, Sui highlighted on its official X post a collaboration between Adidas and XOCIETY, a flagship Web3 game on Sui’s blockchain, integrating exclusive Adidas digital apparel as NFTs, which aligns with Adidas’ ongoing Web3 efforts. This collaboration is a positive signal for Sui Network, enhancing its adoption, ecosystem growth, and token utility.
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