When charts speak, wise traders listen. The latest technical setup of SUI/USDT paints a promising picture, hinting at a potential opportunity for profit-hungry investors and short-term traders.
๐ป Breaking Out of the Down Channel
The chart clearly illustrates a "Down Channel," which has guided the price downward for several sessions. However, a recent breakout attempt from this channel signals a shift in momentumโpotentially towards the upside.
๐ RSI Indicator Supports the Move
The RSI (Relative Strength Index) below the chart is showing a bullish divergence. This upward momentum in RSI often indicates a possible price surge, serving as a positive sign for buyers looking to enter the market.
๐ฎ Potential Target Levels
If the breakout holds strong, the price of SUI could potentially aim for the following resistance levels:
$3.4955
$3.5701
$3.7614
$3.89+
Each of these levels represents a technical barrier where short-term profit-taking may occur.
