Will the value of SUI retest the $2 mark as consumers fail to surpass the 50-day EMA line?
As Bitcoin drops 2.37% at the moment, altcoins are experiencing an intense pullback. The SUI token has recorded an intraday pullback of 6.61% and is at the moment buying and selling at $2.5938.
This undermines yesterday’s restoration of 6.11% and raises considerations of a possible breakdown beneath the $2.5 psychological help. May this result in one other retest of the $2 mark?
SUI Wedge Breakout Rally Hits a Hiccup
On the day by day chart, the SUI value motion confirmed a bullish breakout from a falling wedge sample. This marked a fast turnaround from the $2 help stage, leading to a 33% value restoration over 16 days.
Nonetheless, the bullish restoration struggled to beat the dynamic resistance of the 50-day exponential shifting common (EMA), resulting in an intraday pullback of 6.11% and forming a bearish engulfing candle.
This ends the streak of six consecutive bullish candles on the day by day chart. As a result of prevailing bearish development throughout the falling wedge sample, the 50-day and 200-day EMA traces have fashioned a loss of life cross. Moreover, the bearish affect warns of a possible unfavourable crossover between the 100-day and 200-day EMA traces.
Nonetheless, the short-term breakout rally has resulted in a constructive crossover within the MACD and sign traces. Because of this, the technical indicators present a diverging outlook, signaling elevated uncertainty within the SUI value development.
Analysts Stay Optimistic, Goal $2.88
Regardless of the minor intraday pullback, crypto analyst Javon Marks highlights the potential for a bullish comeback for SUI. Marks factors to a hidden bullish divergence within the SUI value development on the two-day timeframe.
Whereas the SUI value development maintains a higher-high formation, the two-day RSI line has remained stagnant at related ranges, indicating potential for a brand new bullish wave. In accordance with the analyst, there’s a sturdy chance of a bullish reversal.
$SUI has only recently confirmed a Hidden Bullish Divergence Sample and the energy being proven may solely be the beginning of the following wave!
With this sample suggesting the pullback from the $5 areas to be momentary, costs could be prepared to almost 2X to return there and better… pic.twitter.com/Dgt47xwLtq
— JAVON⚡️MARKS (@JavonTM1) March 27, 2025
Moreover, analyst Ali Martinez anticipates a continuation of the bullish development on the weekly timeframe. Martinez highlights the following important value targets for SUI at $2.88 and $3.25, derived from Fibonacci ranges on the weekly chart. The analyst additionally notes a 25% surge following a well timed purchase sign from the TD Sequential Indicator.
$SUI surged 25% after a well timed TD Sequential purchase sign. If this bullish momentum continues, $2.88 and $3.25 are the following key ranges. pic.twitter.com/XChKo8j23g
— Ali (@ali_charts) March 28, 2025
DisClamier: This content material is informational and shouldn’t be thought-about monetary recommendation. The views expressed on this article might embrace the creator’s private opinions and don’t mirror The Crypto Primary opinion. Readers are inspired to do thorough analysis earlier than making any funding choices. The Crypto Primary shouldn’t be liable for any monetary losses.
