SUI Bulls Face Key Resistance as Price Approaches $2.365
SUI's recent price recovery has increased bullish sentiment, but its momentum is being challenged. Key points include:
- Price bounced from support levels but faces strong resistance.
- Bulls are attempting to break through resistance, yet buying pressure remains inconsistent.
- A struggle between buyers and sellers is evident, with bears aiming to limit gains.
- If bulls gain momentum, SUI might surpass resistance at $2.365, possibly leading to further increases toward $2.8217.
- Current indicators show potential for a bullish crossover in the MACD, signaling possible upward movement.
However, if resistance proves too strong, a retracement may occur. Key support levels to monitor include:
- $1.5997, where buying interest may emerge.
- Below this, critical support is at $1.4222, which has served as a price floor.
- If selling pressure escalates, lower support at $1.1689 could be tested.
Bulls need to defend these support levels to sustain an uptrend or face a prolonged consolidation phase before attempting recovery.
