SUI Holds Strong Despite Correction, Targets New Price Peaks
Sui It recently hit an all-time high (ATH) of $5.36 before a 10% correction over the past two days took its price down to $4.58.
Despite this pullback, altcoins are still recovering due to ongoing bullish market conditions, which could pave the way for another ATH surge in the near future.
SUI notes strong support
Financing rates for SUI have remained positive over the past ten days, suggesting traders remain optimistic despite recent price declines. This continued positive sentiment suggests market participants are betting on a price recovery and potential new ATH. Sentiment within the SUI community remains bullish, which could provide the momentum needed for a rebound.
Strong optimism among traders suggests Support SUIeven in short-term adjustments. This confidence underlines the belief that the cryptocurrency is poised for further growth, backed by favorable conditions and a committed trading community.
From a macro perspective, SUI’s Relative Strength Index (relative strength index) is still above the neutral 50.0 mark and is in bullish territory. While small declines suggest mild bearish momentum, they are not enough to trigger a significant downward move. This resilience supports the possibility of price reversal.
The RSI being in bullish territory indicates steady buying pressure, which could act as a barrier to further declines. If the indicator holds current levels or trends higher, it could strengthen Opportunities for SUI Recover recent losses and target new ATH.
SUI Price Forecast: Prevent further corrections
SUI’s Price Experience It has retraced 10% in the past 48 hours, losing support at $4.79 and trading at $4.58 at the time of writing. This decline, while notable, does not negate the possibility of a recovery, especially given the bullish sentiment and market support.
Although SUI is currently close to support at $4.35, favorable market conditions may allow it to return to support at $4.79. If this happens, SUI could rally back to its previous ATH of $5.36. Breaking this barrier would set the stage for a new all-time high.
The bullish outlook may be invalidated if: Sui Waterfall A break above the $4.35 support to $4.05 or lower. The move could trigger bearish sentiment that could lead to increased selling pressure and further losses, thus challenging the altcoin’s recovery prospects.
Disclaimer
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