SUI Price Breaks Bearish Channel with 3.85% Intraday Recovery
The crypto market shows signs of recovery, with SUI experiencing a bullish breakout rally. Key developments include:
- SUI price has increased by 3.85% intraday.
- Current price maintains above the $2 psychological mark.
- Overhead resistance is between $3.63 and $3.67, while demand is near the $3 mark.
- A recent bounce from support suggests a breakout rally, with a nearly 7% surge challenging the 23.6% Fibonacci level.
- Technical indicators signal potential buy opportunities, including an impending MACD positive crossover.
- SUI network shows strength with total addresses surpassing 56 billion and decentralized exchange volume reaching $61 billion, marking a 20% recovery in the past month.
SUI price targets indicate:
- A bullish move above the 23.6% Fibonacci level could approach the $3.65 resistance, representing a 15% upside.
- A continuation above the 61.80% Fibonacci level may target $4.50 and $5.00.
- Support levels are at $3.00 and $2.86, with strong buying interest noted around $3.00.