$SUI Daily Analysis
SUI has been showing some interesting movements lately. After a period of consolidation, we've seen an uptick in volume, suggesting renewed interest from traders. The price has been testing a key resistance level around the $1.20 mark. A decisive breakout above this could signal further upward momentum, potentially targeting the $1.35-$1.40 range.
However, it's worth noting that the broader market sentiment remains a significant factor. If Bitcoin experiences a downturn, SUI could retrace towards its support at $1.10. The RSI is currently hovering in the neutral-to-slightly-bullish territory, indicating there might still be room to run without being overbought. Keep an eye on the 4-hour chart for confirmation of any trend changes.
Key Levels to Watch:
Resistance: $1.20, $1.35
Support: $1.10, $1.05
Conclusion: SUI is at a pivotal point. A successful breach of resistance could open the door for more gains, but traders should remain cautious and set appropriate stop-losses given the current market volatility.
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