CandleFocus SUI Price May Correct Before Targeting Higher Levels, Say Analysts
2024-11-18
Author: Content Editor
The price of SUI has been increasing and is currently trading at $3.37. Analysts predict that there may be a pullback to the $1.90-$2.30 range where SUI could find support for its next bullish run. A golden cross formation on the daily chart suggests a bullish trend, but smaller candlesticks indicate a potential pullback as SUI approaches resistance levels. The Money Flow Index is in overbought territory, suggesting a decrease in buying pressure. Market analyst PStrade2 believes SUI will return to the $1.90-$2.30 area before continuing to grow. A successful test of this support zone would confirm the uptrend. The outlook remains bullish as long as the price stays above $1.60. Two scenarios are outlined for SUI after a pullback: a bounce off the support area or a swift break above resistance. Volume analysis indicates solid buyer engagement, and sustained volume during a retest of support could propel SUI higher.
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