SUI has had a pretty active week on the charts. It moved via an extended, quiet consolidation section, dipped sharply, after which snapped again with a powerful bullish rally that pushed the worth into the mid-$1.50s.
BitGuru summed it up nicely, declaring how the breakout got here proper after that consolidation interval and confirmed actual energy from patrons.
You possibly can see it clearly on the SUI chart: a gradual, tight vary, a sudden breakdown, after which a clear reversal that kicked off the transfer upward. Now that the rally has cooled off, SUI is beginning to transfer sideways once more, however this time it’s doing it inside a brand-new demand zone.
A New SUI Demand Zone Takes Form
Probably the most fascinating a part of the present setup is how nicely the SUI worth is holding inside this demand space.
Each time the worth drifts decrease, patrons present up round the $1.52–$1.56 zone and maintain the chart secure. The candles are small, managed, and never displaying indicators of panic, a great signal that accumulation is occurring as a substitute of distribution.
It seems so much like the construction that shaped earlier than the earlier breakout, the one BitGuru known as the “bullish magnificence.” The rhythm is comparable: compress, get away, pull again, type demand. If the SUI worth continues respecting this zone, it units the stage for one more try towards the higher finish of the vary round $1.62–$1.65.
Momentum Nonetheless Favors the Bulls
Regardless that the SUI price isn’t exploding upward right now, the broader trend still looks strong. The restoration rally didn’t get erased, and worth continues to construct construction above the key help space. So long as patrons maintain defending the decrease finish of the demand zone, the chart leans bullish.
If momentum picks up once more, the first hurdle is the high of the native vary close to $1.62–$1.65. Clearing that would put the earlier excessive round $1.75 again in play.
On the flip facet, dropping the $1.52 help would shift short-term momentum towards sellers, however up to now there’s no actual signal of weak point growing.
Learn Additionally: Sui Matches Solana but Trades at a Fraction of Its Market Cap
What’s Subsequent for SUI?
SUI’s chart nonetheless leans constructive after its sturdy restoration. The brand new demand zone is holding, patrons are energetic, and the construction hasn’t damaged down.
So long as the SUI price stays above the mid-$1.50s, SUI seems positioned for one more transfer increased, it’s only a matter of when the subsequent wave of momentum hits.
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