sui Rising 15% a Day, How High Can It Rise? Three Things to Watch Out for This Week (SUI Price Analysis)
SUI impressed with its performance today, but will it be enough?
Key Support levels: $1
Key resistance levels: $1.4, $2
1. Strong Bounce on Key Support
SUI managed to bounce off the $1 support quite well and has since gained more than 20% from that level. This puts the main resistance at $1.4 as the immediate target.
Chart by TradingView
2. Price Movement is Upward
On the three-day chart, SUI is making higher highs and higher lows. As long as this continues, the upward trend will continue. This will be reconfirmed if SUI breaks above the $1.4 resistance.
Chart by TradingView
3. RSI Shows Strong Buying Pressure
The 3-day RSI has been above 50 points for months. This is both bullish and indicative of continuation, especially since it had reached an 80-point higher peak before this correction began. Now it has made a higher low.
Chart by TradingView
Prejudice
The trend for SUI is upward.
Short Term Forecast on SUI Price
It is important to watch the key resistance at $1.4. If it breaks, SUI will be more likely to continue its rise and move closer to its all-time high of $2.
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Cryptocurrency charts from TradingView.
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