🚨 $SUI Price Update: Breakout Incoming or Fakeout Bounce? 🚨
Sui $SUI is currently trading around $3.99, trying to build momentum after a solid rebound from the $3.60 support zone. The price action is tightening, and a decisive move looks like it's just around the corner 👀
📊 Technical Breakdown:
After consolidating between $3.37 and $4.00, SUI is now pressing against short-term resistance at $4.20. A clean break above this level could trigger a strong leg up toward $4.50 - $5.00, which also lines up with a previous local high.
🔑 Key Levels to Watch:
Support:
$3.60 – held well on recent dip
$3.37 – must-hold zone to avoid deeper correction
Resistance:
$4.20 – local ceiling right now
$4.50 - $5.00 – next upside target zone
Breakout Trigger:
A strong candle close above $4.20 with volume
📉 Indicators:
-RSI: Trending near 60 - bullish momentum building, but not overbought yet
-MACD: Bullish crossover forming on daily timeframe
-EMA Levels: Price is holding above the 50-day and 9-day EMAs - positive sign for continuation.
🧭 Trade Setups:
Bullish Scenario:
A breakout above $4.20 opens the door for a run to $4.50 – $5.00. Ideal entry on a retest of the breakout level with confirmation.
Bearish Scenario:
Rejection at $4.20 and break below $3.60 may trigger a drop toward $3.37 or even $3.00.
Neutral View:
Range-bound between $3.60 - $4.20 until a catalyst pushes price out of consolidation.
$SUI looks like it’s winding up for a big move. With rising DeFi activity on the network and strong support holding so far, bulls are in a good position - but they need to reclaim $4.20 fast.
Volume is key here. Without it, we could see more chop before any serious breakout.
