The $SUI /USDT chart shows a strong upward movement, with the price rising from a low of $1.3078 to a high of $1.5769 within the 4-hour timeframe, representing a 14.44% gain. This rally indicates significant buying interest, pushing the price higher as traders capitalize on the momentum. The current price is $1.5569, slightly below the recent peak, signaling minor profit-taking, but the bullish trend remains intact.
The key resistance level to watch is $1.5769, the recent high. A confirmed breakout above this level with increased buying volume could lead to further gains, potentially pushing SUI/USDT toward the $1.60 psychological level. On the downside, the nearest support is around $1.3919, which served as a base for the recent rally. If the price pulls back, this level could act as a strong support for buyers to re-enter and continue the bullish momentum.
For traders looking to go long, waiting for a breakout above $1.5769 or entering on a pullback near $1.3919 could provide favorable entry points. In either scenario, placing stop-losses below the support levels is crucial to managing risk and protecting against potential market volatility.
Overall, the current trend remains bullish, but traders should be cautious of potential short-term retracements. As long as the price stays above key support levels, the bullish momentum is likely to persist.
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