SUI Price Approaches $2.82 Resistance Amid Bullish Momentum
SUI is testing the $2.82 resistance level, which has previously hindered bullish momentum. Current price action shows increasing trading volumes and strong support levels, suggesting positive sentiment among buyers.
- Past attempts at breaking $2.82 have led to pullbacks, making this a critical test for the market.
- A confirmed breakout could lead to new highs, while failure may result in renewed selling pressure.
Chart Patterns And Technical Indicators
- Formation of bullish ascending candlesticks indicates building buyer momentum.
- Relative Strength Index (RSI) is above 50, and Moving Average Convergence Divergence (MACD) shows a bullish crossover.
- Trading volume is rising, often preceding breakout moves.
- The price has surpassed a bearish trendline, signaling a potential shift in market sentiment.
Should SUI break through $2.82 with strong volume, it may trigger a rally towards $3.50 or higher, invalidating previous resistance.
Rejection And Possible Pullback Levels
- If SUI fails to break above $2.82, sellers may trigger a downside move.
- Key support is around $2.36, where buying pressure has previously emerged.
- Further declines could see SUI drop to $1.59, with $1.42 as a crucial defense zone for bulls.
