Sui Price Analysis: Bulls Defend Key Support Levels
Sui (SUI) saw a strong bounce off the 20-day EMA at $0.87 on Aug. 23, indicating aggressive buying at lower levels. The bears are attempting to stall the recovery just below the key overhead resistance at $1.11. If SUI turns up from the current level or bounces again off the 20-day EMA, this will signal positive sentiment and could encourage bulls to push the price to $1.20. A break above this level may see SUI rise further to $1.44.
However, bears could regain control if they manage to pull the price below the moving averages, potentially sinking the pair to $0.71.
On the 4-hour chart, the rising 20-EMA and RSI in positive territory indicate a buyer's advantage. The pair has bounced off the 20-EMA, and bulls are likely to attempt a retest of the overhead resistance at $1.12.
Conversely, if the price turns down and breaks below the 20-EMA, it may suggest selling pressure at higher levels, leading to a decline to the 50-SMA and then to $0.80.
Watch these key levels for potential moves! đ #Sui #SUI #CryptoMarket #SUIUSDT
