The SUI currency is attracting the attention of investors after a strong rise, targeting the psychological barrier of $4.00 as an important resistance level. However, some analysts warn of the possibility of a price correction before reaching this target. Technical analysis indicates that the currency may return to test the support level around $3.20 - $3.30 before resuming the rise. This potential decline is attributed to profit-taking after the sharp increase, alongside the overall volatility in the cryptocurrency market.
The Relative Strength Index (RSI) shows overbought signals, supporting the short-term correction scenario. However, the overall picture remains positive in the medium term, especially with the continued influx of liquidity towards altcoins and traders' interest in projects with strong technologies.
Will we see a breakout soon towards $4.00? That remains dependent on SUI's ability to maintain current support levels and regain buying momentum. Cautious monitoring is required in the coming days.
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