#SUI Can the price recover 1.4
After Bitcoin rose 5% to $63,850, the altcoin market saw an influx of funds.
SUI price jumped above the 50-day EMA, signaling a positive shift in the short-term trend.
Since the beginning of August, Sui Network TVL has rebounded significantly. DeFiLlama data shows that it has surged from US$342.8 million to US$654.2 million, an increase of up to 90%, demonstrating the market’s confidence in the potential of Sui Network.
SUI has established a solid support at $0.8, and is dually supported by the 20-day and 50-day EMA, indicating that market sentiment is gradually recovering.
This round of rise was accompanied by a nearly 30% surge in trading volume, successfully breaking through the psychological barrier of $1, and forming an inverted head and shoulders bullish pattern on the daily chart, indicating further upside potential.
SUI price may first rise by 7% to challenge the neckline resistance of $1.1.
Once it breaks through, it will accelerate to $1.2 or even $1.43.
If supply pressure intensifies, prices could pull back from the trend line, retest support at $0.8, or even reverse the bullish trend.
Investment in the currency circle depends on general experience and information sources. .
Don't always follow other people's strategies from the past few days. You should always wait until the market moves before you get anxious.
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