Will $SUI go down to 3.5$?
Longer-term 99-day EMA (the purple line) suggest a potential downside target. It's currently around $3.7878 and has acted as support previously.
However, my short-term analysis, focusing on the more immediate 7-day (yellow) and 25-day (pink) EMAs, suggests the price is currently experiencing some upward pressure. These shorter-term EMAs are still below the current price and could act as dynamic support in the immediate future.
While a drop to $3.50 isn't entirely out of the question in a volatile market, it's not the most likely scenario based on the immediate technical indicators shown. The price would need to break below the 25-day EMA and the 99-day EMA to make a move towards that level more probable in the next 5 days.
While a drop to $3.50 is possible, it's not what the immediate technicals are strongly suggesting right now. My initial target of around $3.99 - $4.00 reflects the short-term upward momentum I'm observing.
