🚨 SUI Price Prediction: The Rally is Not Necessarily Over Despite Trend Line Break 🚨
The daily chart shows that the latest two-day losing streak for SUI has resulted in a trend line break that may anticipate a strong pullback for this utility token.
However, the mid-term outlook is still bullish as SUI made a ‘golden cross’ – a buy signal triggered when the 21-day exponential moving average (EMA) crosses above the 200-day EMA.
This pullback could offer late buyers the chance to enter the rally at a lower price. The Relative Strength Index (RSI) had already entered overbought levels in the past few days, meaning that buyers were getting a bit out of hand as FOMO kicked in.
This correction could push SUI to its nearest supports – the 21-day and 200-day EMA. Meanwhile, if SUI stays above $3.55, it will avoid breaking its bullish structure and it will confirm that the rally still has enough fuel to go on and rise to a new all-time high.
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