CandleFocus Rising Demand Fuels SUI’s $5 Breakout Hopes
2024-12-13
Author: Content Editor
The crypto coin SUI has been experiencing an upward trend, reaching an all-time high of $4.87. Despite a slight retreat from this peak, the coin maintains bullish momentum and potential for future rallies. SUI's price movement indicates a bullish trend, supported by the Ichimoku Cloud indicator. The cloud acts as a dynamic support zone, with support levels at $4.02 and $3.23. The Directional Movement Index (DMI) confirms the bullish strength, with the positive directional index above the negative directional index. At the moment, SUI is trading at $4.68, slightly below the new resistance level at $4.87. If buying activity strengthens, the coin's price could break above this resistance and reach new highs above $5. However, an increase in selling pressure could invalidate the bullish projection and cause the price to fall to $3.83.
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