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🪙 What is SUI?
SUI is a next-generation digital currency (Layer-1), characterized by fast transactions and ease of development thanks to the smart 'Move' environment. It was built to be a strong network supporting smart contracts and advanced decentralized applications, attracting over 100 decentralized applications and achieving a trading volume in decentralized markets exceeding $90 billion.
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📈 Current technical situation
Recently, SUI has created a W-reversal pattern and has broken away from the 'descending wedge' pattern, recording an increase of about 47.7% over the last 30 days, and has reclaimed the $4 level.
The 50-day moving average (around $3.10) crossed on July 10, indicating additional upward potential towards $5 if it surpasses the resistance at ~$4.30.
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🎯 Market forecasts and expert comments
Some analysts believe that SUI could head towards its next highs reaching $5 or more during the altcoin season, especially if liquidity continues to flow away from Bitcoin.
On the other hand, some forecasts indicate a potential decline in price to $3.06 in the coming days (a decrease of about 23%), if the current support loses strength.
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⚖️ Support and resistance levels
Strong support: at levels of ~$3.37 (20-day EMA), followed by ~$3.10 (50-day SMA).
Resistance: between ~$4.10 and $4.30, then at ~$5.
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💬 Summary and tips for traders
The current price of SUI is around $3.92–$3.93, fluctuating between $3.92 and $4.24 during the day.
If the resistance of $4.30 is breached, the price may move towards $5–$5.37.
If support declines, we may see a correction to levels of $3.37 or even $3.10.
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✅ Risk management tips
Set a stop loss below support ($3.37–$3.10) if you are trading short-term.
Wait for confirmation of the resistance break before entering if you are a medium-term investor.
Monitor trading volume (currently around $3 billion daily) to gauge momentum strength.
