🚀 SUI/USDT Analysis Update: Is Now the Time to Buy or Hold?

SUI/USDT has been on a strong bullish run, currently trading around $1.10 after a 6.50% rise in the last 24 hours. This upward momentum is supported by a bullish MACD crossover and an RSI approaching 60, indicating further potential gains.

But while the daily and weekly charts show a promising trend, caution is advised. The market could see a short-term correction, especially with the RSI nearing overbought territory and an important token unlock event coming up soon. This could introduce volatility, so be prepared for potential price fluctuations.

On the positive side, SUI’s expanding DeFi ecosystem and strong market sentiment suggest a bright future, with some analysts targeting $3.60 by Q4 2024. However, with the possibility of a short-term dip, now might be a strategic time to assess your position.

If you’re looking for a mid-to-long-term hold, the fundamentals are strong, but short-term traders should watch key support levels closely. Always trade responsibly and keep an eye on market developments!

Is it time to buy, hold, or wait? The choice is yours, but the outlook is cautiously optimistic.

Trade wisely! đŸ’č

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