Daily Chart #SUI /USDT

Bears are trying to keep the price below the 20-day simple moving average ($3.85). If they succeed, the SUI/USDT pair may drop to $3.51. Buyers are expected to fiercely defend the zone between $3.51 and the 50-day simple moving average ($3.27).

If the price turns upward from $3.51 and breaks above the 20-day simple moving average, it will indicate a possible range formation. The pair may fluctuate in the range of $3.51–$4.30 for some time. A breakout and close above $4.30 could initiate a new upward trend towards $5.