The SUI price is stable at $3.5, does this indicate that there is further room for rise, approaching the $4 mark?

Despite the Fluctuation in the market, SUI still shows extraordinary stability, stabilizing above the key $3.5 support level. This stable performance reflects potential bullish momentum, as buyers continue to defend this key area, strengthening confidence in the asset's pump potential. With the strong support level intact, SUI appears to be in a favorable position to target higher resistance levels, triggering optimism for further pump.

This analysis aims to explore whether SUI can maintain its level above $3.5 and assess its impact on future price movements. By studying key technical indicators and resistance levels, this article aims to gain a deeper understanding of whether SUI can sustain its bullish momentum or if market pressures could trigger a change in its trajectory.

SUI shows a new bullish momentum as it holds steady above the key $3.5 support level. This stability highlights the ongoing buying interest and market confidence, paving the way for a potential rise towards the $4 mark. Its ability to maintain above this key level and the 4-hour Simple Moving Average (SMA) strengthens the asset's pump momentum, and if positive sentiment persists, SUI will pump further.

4-hour relative strength index (RSI) analysis shows that it has rebounded from 51% to above 60%, indicating a renewed optimistic outlook. If RSI continues to rise above 60%, it will confirm a bullish trend, thereby increasing the potential for further price pump.

In addition, SUI shows a clear bullish trend on the daily chart, forming a bullish candle as it moves towards the $4 level. The trading price above the key 100-day SMA reinforces the positive trend, indicating continued strength. As SUI continues to rise, it enhances market confidence and lays the foundation for a rise. With upward pressure brewing, the next key target to follow is the $4 resistance level, which may determine whether the bullish trend will continue.

The RSI on the daily chart has risen to 80%, indicating strong market sentiment and sustained buying pressure. Although the asset is still in the Overbought zone, there is no sign of weakness. If the momentum continues, the price may further pump, but investors should remain cautious, as a decrease in buying pressure may lead to a pullback in the long-term Overbought condition.

SUI is currently stable above the support level of $3.5, indicating the potential for continued pump. If buying pressure continues to exist, the next key target will be $4, which may trigger bullish interest, leading to a new high in price.

However, if the resistance level at $4 is difficult to break through, there may be a consolidation or a slight decline, which could lead to a price fall to the support level at $3.5. Breaking this level may lead to further decline, with the next key support target at around $2.8, followed by other support areas below.


(Data source: Godspower Owie)