Cryptocurrency Sui (SUI) demonstrates steady growth trading at $3.82 despite declining trading volumes. Analysts focus on key resistance and support levels.
SUI Shows Steady Growth
Sui (SUI) rose by 2.41% in the last 24 hours, trading at $3.82. This change occurred amid a significant decrease in trading volume of -52.51% totaling $659 million. The price action indicates consistent accumulation rather than speculative swings, maintaining market stability. The cryptocurrency’s market cap stands at $13.44 billion, ranking SUI at #14 among major digital assets.
$4 as a Key Resistance Level
The market continues to face resistance at the $4 level, with comments from market analyst Ali (@ali_charts) noting, "$SUI failed to break $4 again! Watch $3.17 as the next support." This observation places key price levels in focus for traders, as attempts to break above $4 have not met with success, indicating consistent selling pressure.
Growth Prospects if $3.17 Level is Sustained
If SUI holds above the $3.17 level, it may pave the way for Fibonacci targets around $5.40 and $6.80. The chart suggests that a bounce from $3.17 could allow traders to revisit the $4 level. Maintaining this level could lead to a significant upward movement if buyers manage to absorb supply at $4.
The current situation in the SUI market highlights the importance of resistance and support levels. Monitoring price movements around $3.17 will be crucial for determining the next trend direction.
