Sui price analysis.
#SUİ resumed its uptrend after buyers pushed the price above the stiff overhead resistance of $4.96 on Jan. 03.
The bears will try to trap the aggressive bulls by pulling the price back below the breakout level of $4.96. If they do that, the SUI/USDT pair could drop to the 20-day EMA ($4.49). Sellers will have to yank the price below $3.94 to signal that the pair may have topped out in the near term.
On the contrary, a solid bounce off $4.96 will signal that the bulls are trying to flip the level into support. That could start a rally to $6.28.
The pair pulled back from $5.36, signaling a possible retest of the breakout level of $4.96. The upsloping 20-EMA and the RSI in the overbought zone suggest that buyers remain in control. If the price turns up from the current level or rebounds off $4.96, it will signal buying on dips. That increases the possibility of the resumption of the uptrend.
Contrary to this assumption, a break and close below the 20-EMA will suggest profit-booking by the bulls. The pair may sink to $4.60 and later to the 50-SMA.