sui Surges 5.16% Amid Bullish Market Structure
Sui’s price has climbed 5.16% in the past 24 hours, showing strong buyer interest. Despite hitting a short-term resistance, the overall trend is still bullish.
The recent price hike has brought Sui close to the $3.88 mark, a key resistance level.This level aligns with the 0.618 Fibonacci retracement and the midpoint of the ascending channel.While this could cause a slight pullback, the broader market remains optimistic.
Key points to watch:
- Local Resistance at $3.88: Sui has reached a critical point, which might led to some consolidation.
- Bullish Trend Continues: Higher highs and lows are still intact, signaling a strong uptrend.
- Key Support at $3.33: A potential dip could test this support, which is a strong buy zone.
Traders should keep an eye on the $3.88 resistance. If it can’t break through, a minor correction to $3.33 is highly likely. This level is supported by various technical indicators, making it a robust support zone.
Analysts believe that a pullback to $3.33 would be a healthy correction. It would reset momentum before pushing towards $4.65.
For now,the $3.33 level is crucial. If it holds, bulls may aim for $4.65. This scenario doesn’t signal a trend reversal but a chance for more gains.
For more insights, check the SUIUSDT 4H Chart on TradingView. The next major resistance is around $4.65. As long as $3.33 holds, the bullish trend will likely continue. This correction would be a normal part of the uptrend, not a breakdown. Traders should stay focused on these levels to make informed decisions.
investors should monitor these levels closely. A prosperous test of $3.33 could lead to further gains. The current price action is part of a larger consolidation within a high-timeframe uptrend. bulls are in control, and the market structure remains intact.
Stay tuned for updates on Sui’s price action. The current movement is a sign of a healthy market, not a reversal. Keep an eye on these key levels to capitalize on the ongoing bullish momentum.
