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💡 Quick Technical Analysis:
✅ Strong rebound after a double bottom!
The price has surged strongly from levels of 1.71 to now reach 3.67 with an increase of over +100%, indicating strong liquidity entering and a clear break from the previous stagnation.
✅ RSI at 93.39 – in an overbought territory, suggesting a potential correction soon, unless the buying momentum continues driven by positive news.
✅ The MACD indicator shows a positive crossover between the DIF and DEA lines, supporting the continuation of the rise in the short term.
📊 Trading volume is very high, reflecting notable interest from traders, and enhancing the likelihood of the upward trend continuing if strong resistance does not appear.
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🚀 Expected scenario:
If the current resistance around 3.81 - 3.87 is broken, we may see a strong surge towards:
✅ 4.15
✅ 4.65
✅ Then testing the historical resistance at 5.25 in the medium term!
In case of a correction, the area around 3.09 represents an important initial support, and breaking it may temporarily bring the price back to 2.31.
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🔥 Is SUI ready for a surge towards the peaks?
Current indicators suggest strong buying momentum, but the overbought condition might lead to a slight correction before the trend continues. The entry of any institutions or additional positive news could ignite the price towards new peaks!
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📌 Important tips:
🔹 Overbought does not mean the end of the trend, but it warns of a potential temporary correction.
🔹 Use capital management and set your goals and stop-loss precisely.
📢 Share your opinion! Do you expect a rise towards 5 dollars soon?!