CandleFocus

SUI Price Holds $2, Rising Channel Targets $3 Resistance

Author: Content Editor
The altcoin SUI is expected to experience a significant rally, potentially reaching $3, as it attracts the attention of smart money and surpasses the $2 mark. The market cap of SUI is close to reaching $6 billion, with a 3.71% increase in the past 24 hours. The altcoin is currently trading at $2.1070 and may form a Morning Star pattern as it retests the $2 breakout. The 20-day EMA is providing support for the uptrend, but a drop below it could result in a decrease to the $1.7492 level. In the 4-hour chart, a rising channel pattern is observed, and the MACD indicator suggests a bullish crossover. The SUI price action is forming a new positive cycle within the channel and may reach a new all-time high near the $2.45 mark or the overhead resistance trend line. To sustain an extended rally, SUI must surpass the overhead trendline and potentially reach $3 based on Fibonacci levels in the daily chart.

Related News