๐ฅ๐ฅTrade Analysis 59: $SUI - Can it Replicate its 540% Bullish Run?
SUI has recently achieved a significant milestone, breaking through the $1.12 resistance level. This breakthrough has ignited speculation about a potential extended bullish run, similar to the 540% surge it experienced last October. Let's delve into some possible scenarios to guide your trading decisions.
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1. Continued Uptrend: The current price action indicates a healthy uptrend, with no immediate bearish signals. If you're already invested in SUI, maintaining your position might be a strategic choice.
2. Potential Sell Pressure at Resistance: As SUI approaches the $1.45 resistance level, there's a possibility of encountering strong selling pressure. If the price retraces, consider buying the dip around $1.00. However, a successful breakthrough of $1.45 could signal further upside potential. Target profit levels might include Resistance levels $1.72, $2.00, or even $2.18.
Remember: Price fluctuations near resistance levels are common. Both retracements and breakthroughs can present opportunities for buying the dip or chasing the high.
That's it for today $SUI Trade Analysis. I hope this analysis help you make smarter trade decision.
Trade Smarter! Peace Out ;)
