The content states that SUI has experienced a strong resistance breakout at the $1.16 level and has turned bullish. However, there is concern that a potential rate cut could negatively affect the positive sentiment. Despite a price surge of over 1.5% in the last 24 hours, SUI has been continuously falling and trading volume has dropped by 10%. Expert analysis suggests that SUI may fall in the coming days due to lower interest from investors, although it is still trading above the 200 EMA. If SUI can close a daily candle above the $1.20 level, there is a possibility that it could soar by 20% to the $1.42 level. However, SUI's on-chain metric is currently flashing a bearish signal, with a 5.5% drop in future open interest indicating weakening interest from investors and traders.
- Content Editor ( coinpedia.org )
- 2024-09-18
SUI’s Bullish Breakout at Risk, Will Fed Rate Cut Impact Rally?