SUI price is rising again, currently trading around $3.99 after a consolidation period. An overview of current trends and price levels.
SUI Price Structure
The trend for SUI began on July 4th, showing a consistent pattern of higher lows and higher highs since then. Previously, the price ranged between $2.80 and $3.20, indicating accumulation. This phase ended with a strong rally that pushed SUI over $4.20, marking the cycle's peak.
Price Levels Traders Are Watching
SUI is now trading above its 9-period simple moving average (SMA), which is near $3.77. There is solid support just below at the ascending trendline, now around $3.60. If that support fails, the previous consolidation base around $3.40 could act as the next level to hold. The resistance level to watch is $4.20.
What Comes Next
Momentum is picking up again. The strong candle and reclaim of the short-term moving average indicate buyers are gaining control. However, it all hinges on $4.20; a clean breakout above that could open the door to new highs, but there's a chance SUI price may pull back to retest $3.76 or $3.60. Either way, the short-term trend remains bullish.
The short-term outlook for SUI appears positive, with traders closely monitoring key price levels and potential market movements.
