SUI cryptocurrency has been on an uptrend for several months but has recently hit resistance at the $4 level, raising questions about the duration of the current rally.
SUI Price Chart Analysis
The current price of SUI has failed to break above the $4 resistance level, leading to a tug-of-war between buyers and sellers. Selling pressure has emerged each time the price nears this level. Analyst Ali points out that the next key support level is at $3.17, which may significantly influence further price movement.
SUI Price Outlook
There are two scenarios to consider for SUI's future movement. If the $3.17 support holds, the next significant level will once again be $4, and a clean break above this level may trigger a rally towards $5.40 and even $6.70. However, if $3.17 breaks, it could lead to a drop towards the $2.80–$3.00 region, testing lower support.
Overall Conclusions
Currently, SUI is situated between two key levels: $3.17 as support and $4 as resistance. Until one side wins this battle, the price may remain under pressure and show volatility. However, from a longer-term perspective, the current state of SUI appears quite optimistic due to the consistent rise of higher lows and increasing trading activity.
The key levels to watch remain $3.17 as support and $4 as resistance. Further price movement will depend on which side prevails in this price battle.
