CandleFocus New All-Time High for SUI Price Not on the Horizon
2024-10-06
Author: Content Editor
The article discusses the recent upward trend in SUI's price and its potential to reach a new all-time high (ATH). However, the tightening of the Bollinger Bands and a significant drop in trading volume suggest an upcoming volatility squeeze that may result in a price drop. The moving Average Convergence Divergence (MACD) indicator also shows early signs of a bearish crossover, indicating a trend reversal towards the downside. If the critical support level of $1.70 is lost, the price could fall further to $1.45 or even $1.16. However, if the broader market shows bullish strength, SUI could rise to $2.18 and invalidate the bearish outlook, potentially leading to a new ATH.
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