$SUI
was rejected from the 50-day SMA ($3.44) on June 3 and reached the $2.86 support on June 5.
SUI/USDT daily chart. Source: Cointelegraph/TradingView
Solid buying by the bulls at $2.86 has started a strong bounce, which could reach the 20-day EMA ($3.40). Buyers will have to push and maintain the price above the moving averages to suggest that the correction may be over. The SUI/USDT pair could then attempt a rally to $3.75 and subsequently to $4.25.
Instead, if the price turns down from the 20-day EMA, the bears will again attempt to sink the pair below $2.86. If they succeed, the pair could collapse to