$SUI Battles Resistance: Can the Bulls Break Through?

#SUI appears to be consolidating within a tight range as its price oscillates around the short-term moving averages. The 9 EMA is currently above the 20 EMA, indicating short-term bullish momentum, although the narrowing gap suggests waning buying pressure. The RSI, hovering in neutral territory, reflects mild bullish sentiment but shows signs of potential reversal if upward momentum weakens further.

Key resistance levels at 4.7863, 4.8118, and 4.8457 present potential hurdles for an upward breakout. On the downside, support at 4.7134 and the critical level of 4.5617 could provide a safety net for bulls. A breakdown below 4.5617 would likely signal a bearish continuation. Traders eyeing long positions could consider entering near the lower support levels, with exits at the immediate resistance zones. Conversely, short trades could be initiated near resistance levels, aiming for the lower support zones.