Amidst high volatility in the cryptocurrency market, the SUI price exhibits resilience, forming a new all-time high (ATH). The current market situation is attracting investors' attention.
Current SUI Market Situation
During the initial days of the month, the crypto market saw significant sell-offs. Despite this, SUI's price remained within a narrow range, indicating market participants' confidence. Surpassing 6 billion transactions, SUI is garnering social activity and remains in a bullish structure, maintaining support above the $2 zone and aiming for resistance at $3.
Technical Indicators and Charts
In the short term, SUI trades within a rising channel along the lower support. Although volume has decreased, stochastic RSI's bullish divergence suggests potential further rise to interim resistance between $2.25 and $2.28. Completing a double-bottom pattern could be key for further growth.
Future Prospects for SUI
The long-term outlook for SUI appears promising as the price is expected to reach new ATHs. On the daily time frame, the price has completed a recovery and is heading back into resistance. A break above $2.13 might invalidate the bearish RSI trend, paving the way for further increases.
The outlook for SUI remains optimistic: the price shows resilience and, despite current resistance, may reach new heights.