#StrategyTrade SUI Price Analysis: Can It Reach $5 After the Recent Breakout?
Sui (SUI) has demonstrated a resurgence in bullish momentum, breaking above crucial resistance levels and exhibiting technical indicators that suggest a potential continuation rally. Both daily and hourly charts reveal a well-structured uptrend, prompting investors to focus on the next significant psychological barrier at $5.
Daily Chart Insights
The daily chart showcases a robust bullish recovery from April's lows of approximately $1.80. Following an extended period of consolidation, SUI has successfully surpassed the 50-day and 100-day moving averages. Currently trading above key SMAs (20, 50, 100, and 200), the 20-day SMA's crossover above the 50-day SMA signals a classic bullish trend. With the price hovering around $4.09, representing a 1.86% daily increase, SUI has effectively breached previous resistance between $3.50 and $3.80. The Accumulation/Distribution Line's positive slope further underscores growing buying pressure, supported by strong volume and accumulation.
Hourly Chart Analysis
On the hourly chart, SUI's momentum remains solid. After multiple retests of the $3.80 zone, the price surged to an intraday high above $4.20 before experiencing a slight pullback. The alignment of moving averages (20, 50, 100, and 200 SMAs) on the hourly chart indicates a favorable short-term rally. Despite a minor cooldown, SUI's position above the 20-SMA suggests a healthy trend. Volume spikes during upward movements and stable Accumulation/Distribution Line readings during dips imply aggressive buying, increasing the likelihood of another upward leg if SUI maintains its position above $3.95.
Given these indicators, SUI appears poised for potential growth, with $5 as a key target to watch.
what do you think 🤔
it's not financial advice suggestions DYOR always before investment $SUI
#CryptoComeback #SUI🔥
Sui (SUI) has demonstrated a resurgence in bullish momentum, breaking above crucial resistance levels and exhibiting technical indicators that suggest a potential continuation rally. Both daily and hourly charts reveal a well-structured uptrend, prompting investors to focus on the next significant psychological barrier at $5.
Daily Chart Insights
The daily chart showcases a robust bullish recovery from April's lows of approximately $1.80. Following an extended period of consolidation, SUI has successfully surpassed the 50-day and 100-day moving averages. Currently trading above key SMAs (20, 50, 100, and 200), the 20-day SMA's crossover above the 50-day SMA signals a classic bullish trend. With the price hovering around $4.09, representing a 1.86% daily increase, SUI has effectively breached previous resistance between $3.50 and $3.80. The Accumulation/Distribution Line's positive slope further underscores growing buying pressure, supported by strong volume and accumulation.
Hourly Chart Analysis
On the hourly chart, SUI's momentum remains solid. After multiple retests of the $3.80 zone, the price surged to an intraday high above $4.20 before experiencing a slight pullback. The alignment of moving averages (20, 50, 100, and 200 SMAs) on the hourly chart indicates a favorable short-term rally. Despite a minor cooldown, SUI's position above the 20-SMA suggests a healthy trend. Volume spikes during upward movements and stable Accumulation/Distribution Line readings during dips imply aggressive buying, increasing the likelihood of another upward leg if SUI maintains its position above $3.95.
Given these indicators, SUI appears poised for potential growth, with $5 as a key target to watch.
what do you think 🤔
it's not financial advice suggestions DYOR always before investment $SUI
#CryptoComeback #SUI🔥
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
SUI
4.1074
+4.34%
