SUI is gaining bullish strength as it heads towards a potential breakout, with a milestone at $2.1825 on the horizon. Recent market activity suggests that a rally could be on the horizon, following a strong rebound at the $1.5 support level.
If the bulls maintain their momentum, the SUI path could lead to a significant price advance, signaling a promising opportunity for traders and investors alike. But the question remains; Will the pressure be enough to overcome this critical resistance?
This analysis aims to examine SUI’s current bullish momentum and assess whether rising pressure could push the price to a potential target of $2.1825. By analyzing recent price action, support levels and resistance areas, this piece seeks to provide traders and investors with insights into SUI’s ability to breakout.
The SUI bullish wave is targeting $2.1825 level
After rebounding at $1.5, SUI price on the 4-hours chart continues to increase pressure, approaching the $2.18 level with an eye on surpassing it. SUI also moved above the 100-day simple moving average (SMA), indicating a strong uptrend that could pave the way for a potential breakout.
The Composite Trend Indicator on the 4-hour chart frame is showing bullish signs for SUI, as the simple moving average (SMA) and signal line rise above the zero line, indicating an increasing positive trend. In addition, a widening spread between these lines implies strong support for a sustainable uptrend, reflecting increased buying interest as the asset approaches key resistance levels.
Also on the daily chart, SUI showed strong bullish momentum, which was marked by a bullish candlestick pattern after a successful bounce at $1.5. The SUI is currently trading above the 100-day simple moving average, and the SUI’s stance not only confirms the bullish phase, but also indicates that previous resistance levels may now act as support, creating a solid foundation for future gains.
Finally, a detailed analysis of the formation of the Composite Trend Index on the daily chart reveals a new upward movement for SUI. The indicator’s signal line aims to cross the SMA line, which is a classic leading indicator that indicates strong buying interest. This crossover attempt, placed above the zero line, indicates that positive sentiment is likely building, with prices potentially pushing further to the upside.
Support and resistance levels to watch
On the upside, resistance around $2.18 represents the next hurdle for SUI. A successful break above this level could pave the way for higher targets, including an all-time high at $2.36. A breakout of this resistance would significantly increase the possibility of reaching new price milestones.
However, if the cryptocurrency fails to cross the $2.18 resistance level, a downward move towards $1.5 may begin. If it breaks below this support, the decline may extend to the $1.42 support level and beyond.