SUI demonstrates a constructive technical picture following a significant retest of resistance, supporting optimistic forecasts for further growth.
Technical Analysis and Signals
The weekly SUI/USD chart shows a favorable technical setup. A previous resistance line has now become support, a classic bullish signal in technical analysis. The price has pulled back to approximately $3.65, where increased buying interest was observed. According to Dami-Defi's analysis, this reflects significant market strength.
Target Level $10 for SUI
Analyst Dami-Defi recently stated, '$SUI just retested broken resistance. looking strong! $10 $SUI is only a matter of time.' This suggests a significant upward breakout from current levels, supported by the current technical setup.
Conclusions and Warnings
While the current market structure appears favorable, it is important to remain vigilant. A failure to maintain support at the current trendline could lead to a deeper correction. A weekly close above the trendline will be crucial to confirm the continuation of the bullish trend anticipated by Dami-Defi.
The analysis indicates positive signals for SUI post-retest of previous resistance, yet potential investors should monitor the situation closely.
