Before the latest trend, SUI experienced a slight drop earlier this week, with a single-day decline of over 10%. Later, the stock regained strength after finding a solid bottom, and currently looks very bullish.
Breaking free from last month's hesitation, SUI has shown strength this month, continuing to maintain a higher high trend on the daily chart, breaking upward and encountering resistance at $4.5.
Cryptocurrency traded calmly for three days before losing control. This led to a rapid drop in price to $3.2, but after rejecting the price level, it rebounded. This triggered a new surge and broke above the resistance levels mentioned, currently around $4.8.
From the current daily chart pattern, the day's trading volatility appears to be high. If the price significantly rises from the current trading level, it may test $10 in the coming days. The $5 level may pose a slight threat to bulls in the lower time frame before rising again.
However, it is worth noting that the steady rise in volume indicators has put the asset in a more bullish state. If the volume decreases, the price may pull back to test the upward trend line before rebounding.
Currently, there are no signs of selling. If the price drops below this upward trend line, SUI may temporarily be affected by bearish action.
Key SUI levels worth noting
After breaking the current $5 level during the ongoing rise, the higher resistance levels to watch are $6, followed by the recent $7.
Currently, the upward trend line is providing support. If the price drops below this line, the parallel support levels to watch are $2.973 and $2.37. If a sell-off occurs, the support level is also $1.77.
Key resistance levels: $5, $6, $7
Key support levels: $2.973, $2.37, $1.77
Spot price: $4.79
Trend: Bullish
Volatility: High
