The cryptocurrency market begins the new week with recovery following volatility triggered by geopolitical tensions. One notable asset is Sui (SUI), which displays positive results.
Market Recovery
As the new week starts, the cryptocurrency market shows signs of recovery after instability last week, rooted in escalating geopolitical tensions between Israel and Iran. Ethereum (ETH) has risen by 3%, crossing the $2600 mark.
Technical Analysis of SUI
Sui (SUI) is also showing positive trends, increasing by 3.61%. A bearish Cypher pattern has formed on SUI's four-hour chart, suggesting a possible short-term correction before resuming the larger trend. Currently, SUI is trading around $3.10, and technical analysis hints the price may reach the $3.91–$4.19 range.
Future Prospects for SUI
The coming trading sessions are critical in validating this bullish setup. A steady move toward the $3.91–$4.19 range would confirm the pattern and likely draw the attention of traders. However, this zone may also see profit-taking emerge, creating short-term selling pressure upon the pattern's completion. Nonetheless, the overall structure remains supportive of upside in the near term.
The cryptocurrency market displays early signs of recovery, indicating a positive sentiment. However, global tensions may still impact technical trends.
