$SUI đ SUI/USDT: Bullish Momentum Builds Amid Institutional Interest!
SUI/USDT has recently broken above the $3.50 resistance level, signaling strong bullish momentum. Currently trading around $3.68, the price action is supported by increasing volume and positive technical indicators. The Relative Strength Index (RSI) is approaching overbought territory, indicating strong buying pressure, while the Moving Average Convergence Divergence (MACD) shows a bullish crossover, suggesting potential for further upside.
Key Technical Highlights:
Support Levels: $3.47 and $3.19
Resistance Levels: $3.93, $4.24, and $4.47
Market Sentiment: Bullish, with expectations of price staying above $3.47 and potentially moving towards $3.93 .
Recent Developments:
ETF Filing: 21Shares has filed for a SUI ETF, leading to a 5% price increase .
Strategic Partnership: Sui has partnered with 21Shares to expand global access to the Sui Network .
Technical Analysis: Analysts suggest SUI is eyeing $8 after breaking $3.50, with a golden cross emerging .
Risk Management Tips:
Move stop loss to breakeven after hitting TP1.
Secure partial profits around 50% at TP1 levels for safer management.
đ Stay Informed: Keep an eye on volume trends and the $3.93 resistance zone. A decisive breach could extend bullish momentum, while rejection might trigger a pullback.