The big one is coming! $SUI is about to welcome a large unlock!
Currently, there is significant pressure at the $3.90 level, but the retracement is particularly small, which indicates that the bulls are not thinking of leaving and are still in the market, the sentiment is still there!
As long as the price can stay above $3, which is the key 38.2% Fibonacci retracement level, the bulls will definitely organize a second attack. If it breaks through $3.90, the price is very likely to soar directly to $4.25, and then head straight for the $5 mark; this wave of increase has great potential!
However, risks must be considered. If the pressure is unbearable and the price falls below $3, then caution is required. The price could very likely drop directly to $2.94, which is the 50% retracement level, and it might even test the support of the 20-day moving average, which is around $2.8.
However, there will definitely be a large number of bulls defending this area, so there might be significant changes in the market worth paying close attention to.
On the 4-hour chart, the situation shows that the SUI price is stabilizing near the 20-day moving average, which indicates that there is capital below supporting the price. However, the bears have been active above, and selling pressure is significant. The bears are determined to push the price below the 20-day moving average.
Currently, the SUI market is in a dilemma, but opportunities often hide in such stalemates.
The bulls and bears are about to determine the outcome, so keep a close watch to seize the opportunity!
With interest rate cuts approaching, I plan to publicly layout a speculative coin, expecting a tenfold increase in the short term and a hundredfold in the long term. The same market situation, top strategies, follow along to witness everything.
