The SUI cryptocurrency is approaching a potential channel breakout, which could lead to a rally towards the $4 level. However, the recent crypto market pullback has hindered SUI's progress, and it is losing momentum. Despite having a $10 billion market cap, SUI has experienced a 9.14% weekly loss. The question now is whether the breakout rally can recover this loss and trigger a new bullish run. The daily chart shows a falling channel pattern, with SUI dropping to the 200-day EMA near the $3 level. A recent bounce off this support suggests a potential breakout rally is possible. SUI is currently trading at $3.26, having experienced a 1.82% intraday pullback. However, two consecutive positive candles indicate underlying bullish momentum. The MACD and signal lines are also on the verge of a positive crossover, indicating a potential shift in trend momentum. A confirmed breakout from the falling channel could result in increased buying pressure for SUI. Resistance is expected at the 50 EMA near the $4 level, which is a crucial level to overcome. If the breakout fails, SUI may retest the 200-day EMA, with an increased risk of a breakdown.



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