SUI Technical Analysis
Key Insights
- Since early August 2024, the SUI market has seen significant price growth, indicating strong market interest and positive sentiment around the asset.
- Consolidation is expected, signaling a phase of price stabilization.
- If high trading volumes persist and the general bullish trend continues, SUI could retest the resistance level and potentially break above it.
As of writing, SUI ranks 20th on CoinMarketCap with a market cap of $5,185,406,008.
SUI Tech Analysis
Since the beginning of August, 2024, the SUI market has been experiencing a steady upward trend with increased trading volumes.
The asset price retested the local maximum, forming a resistance level at $2.18144. The recovery from the previous low at $0.4533 amounted to more than 370%.
According to the volume profile, the interest of market participants remains high.
At the moment, a correction is taking place and the price is at $1.8209, which corresponds to a decline of more than 17% from the recent highs.
SUI Price Prediction
In the short term, consolidation is possible in the range between the key resistance level of $2.18144 and the mirror support level of $1.4353.
If trading volumes remain high and the general uptrend continues, growth is likely to resume with a retest of the resistance level $2.18144 and a potential break above it.
However, strengthening of correctional dynamics may lead to further price decline.
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