SUI: Bullish or Dead-Cat Bounce?

This week, SUI gained 6%, beating market weakness and sustaining support above an ascending trendline around $2.29. Concentrated purchasing activity at key levels supports the price despite a 10.17% drop in 24 hours.

SUI/USDT has steadied at trendline and horizontal support at $2.30, sustaining its short-term bullish structure. After falling below 27, the Relative Strength Index (RSI) has risen, suggesting a halt or reversal in the latest selloff.

A strong rise over $2.40 might shift momentum toward the following resistance levels as bearish pressure persists below the 50-period EMA.

Developer-focused Web3 projects and tools were showcased during the SUI Gaming Summit, establishing the network as a blockchain-based gaming center.

Its presence in African markets rose 6x this year, indicating a huge increase in reach and use case possibilities.

Beyond short-term speculation, these patterns indicate growing trust in SUI's long-term value.

SUI: Bullish or Dead-Cat Bounce?
SUI's 6% weekly rise may start a protracted rally if technical confirmation and ecosystem follow-through occur.

Despite holding up nicely at significant support, the coin is below the 50-period EMA, a technical obstacle. A break above $2.50 might lead to a retest of $2.61, while a fall below $2.29 could go to $2.23.

Trader watchpoints:

Confirm upward trend by breaking $2.50 (EMA).

Gaming and DeFi integration progress

Crypto market adoption in developing markets

In conclusion, SUI's structure is promising, but momentum must be matched by on-chain growth and breakout confirmation.

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