$SUI The current price of SUI/TetherUS shows interesting dynamics. The chart shows how the price consolidated for some time in a range, and then a breakout of the resistance level occurred (approximately at the mark of 2.8).
What could this mean?
* Bullish momentum: A breakout of resistance often indicates buyer strength and may signal further price increases.
* Support level: The previous resistance level can now act as support. It is important to observe how the price behaves during a possible pullback to this level.
* Volatility: Pay attention to the expansion of Bollinger Bands, which indicates an increase in volatility.
Trading ideas (not financial advice):
* For bulls: Consider longs after the price establishes above the broken resistance level, setting a stop-loss below this level.
* For bears: Watch for a possible false breakout and the formation of reversal patterns to open shorts.
Important: Always conduct your own analysis and consider risks when trading cryptocurrencies.
What do you think about this situation? What are your forecasts? Share your opinion in the comments!
