SUI Price Performance

On the 4-hour chart, SUI’s price action reveals a rising channel pattern. The price trend within the channel showcases a massive V-shaped reversal, testing the overhead trendline.

This resulted in a new all-time high for SUI at $4.8790. Currently, the SUI price is experiencing a minor pullback after testing the resistance trendline.

As per the trend-based Fibonacci levels, the bullish recovery failed to maintain dominance above the 78.60% Fibonacci level at $4.83. This resulted in a close dip to the 61.80% Fibonacci level at $4.46.

The pullback brought the SUI price down to a low of $4.54, maintaining dominance above the $4.50 psychological mark and avoiding a retest of the Fibonacci support. This indicates a crucial demand zone between $4.46 and $4.54.

Meanwhile, the price trend reveals a small recovery, with SUI currently trading at $4.633. Despite the strong recovery, the minor pullback has brought the MACD and signal lines closer together, warning of a potential bearish crossover.Additionally, the RSI line has dropped from the overbought zone and is testing the 14-day SMA line.