SUI Coin Analysis 🔥🔥🔥 Look here, is it going up or down? 👇👇👇
📈 SUI/USDT price trend: is it going to make a big move? 🚀
Let's continue to keep an eye on the SUI/USDT market, the chart is interesting. In this article, let's talk about the current price trend, major resistance levels, and what this asset might do next.
Technical Analysis Overview
Look at the chart, SUI/USDT has risen quite strongly, up a lot. The current price is 1.8986, up more than 10% today. Let's analyze the key points that drive this trend:
Breakthrough resistance zone
The price broke through two key resistance zones, which is a signal of a big rise:
The first resistance zone is around 1.50, which has been a strong resistance before.
The second resistance zone is around 1.85, and the price just broke through recently, further confirming the rise.
These breakouts are important, indicating that buyers are leading the market and there is strong demand at these prices.
Wedge Breakout
Prior to this rally, prices had been in a falling wedge pattern, which is usually a sign of a bullish reversal.
What will happen to SUI next?
Prices are firmly above the second resistance zone, so we have to focus on two possibilities:
🚀 Rising:
If the rally continues, prices may rise to the next resistance level of around 2.18. This will be a continuation of the rally, and if it breaks through this level, the increase may be greater. The key is that prices must stabilize near the current price level, accumulate strength, and then rush to the next wave.
📉 Falling:
If prices cannot hold the current resistance zone of 1.85, they may pull back to test this price as support. In this case, the 1.50 price level may also be tested again, which is a strong support during the pullback.
Key Summary:
Strong Breakout: SUI/USDT breaks through two major resistance zones, and the rally may continue.
Wedge pattern breakthrough: The falling wedge breakthrough is the key signal of this wave of rise, and the price is still continuing to rise.
Next resistance level: Keep an eye on the $2.18 price level, which may be the next major resistance. Breaking through this price level, the price will rise again.
Risk of callback: Although the rise is strong, the risk of callback should also be paid attention to, especially when the price cannot hold the current resistance zone of $1.85.
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