#SUI Price Prediction:
After two consecutive days of pullback, SUI has experienced a bullish recovery, breaking through resistance levels, with trading volume increasing by 43%.
Sui rose approximately 10% during the day, with trading volume reaching $2.281 billion, further suggesting a strong bullish recovery. However, it is still about 14% discounted from the historic high of 3.93 set on the 17th.
From a long-term perspective, it has doubled this month, with a year-to-date (YTD) return of +337.02%. With a market capitalization of $9.67 billion, SUI is currently ranked 18th among global cryptocurrencies.
Technical Analysis:
The Moving Average Convergence Divergence (MACD) shows a constant red histogram, indicating bearish convergence recorded on the daily timeframe. This highlights the increased selling pressure on SUI in the market.
The SMA indicator consistently acts as resistance for Sui. This indicates that the market holds strong bearish sentiment towards SUI.
If the bulls continue to suppress the price, the price of Sui will exceed previous highs, and the next target will be 4.2. There is ample space above, and there is a significant opportunity for an independent market trend, which is a common pattern for SUI.
Conversely, if the bears gain momentum, Sui will retest its support level of 3.25.
In summary, combined with its background and the continuous introduction of new narratives, as long as there is a pullback, it’s bold to enter, as this is definitely not SUI's limit!!!
If you want to seize this bull market, learning on the fly is definitely too late; it’s best to have someone guide you quickly.
I am David, welcome to communicate!