SUI Token Rebounds from $2.8 Support, Eyes Key Resistance Levels
The SUI token is experiencing a rebound from the $2.8 support level, indicating renewed bullish sentiment in the market. Key points include:
- SUI has shown resilience at the $2.8 support level after multiple defenses by buyers.
- Traders are monitoring for potential breakthroughs above key resistance levels.
- A decisive move above resistance may initiate a stronger upward trend.
- Failure to sustain momentum could result in a pullback and continued consolidation.
Technical indicators suggest increasing buying interest, with the price approaching the 4-hour Simple Moving Average (SMA) and a possible bullish crossover indicated by MACD. Critical levels to watch include:
- $3.5 as the first resistance barrier.
- Potential major resistances at $3.9, $4.9, and $5.3 if upward momentum continues.
Momentum indicators like RSI and MACD show improvement, but strong volume and sustained buying pressure are essential for confirming any trend shift. The upcoming trading sessions are crucial for establishing whether bulls can maintain control.
