SUI Targets Bullish Breakout with Golden Cross Potential
Sui Having gained some momentum in the past 24 hours, its market cap is now $10.5 billion. However, it is still trying to recover from a 26% drop in the past 30 days. Technical indicators currently show mixed signals. The CMF is -0.06, reflecting the easing of sales pressure, but still indicates cautious market sentiment.
Meanwhile, Ichimoku Cloud proposed a merger with the possibility of a bullish breakthrough. The EMA line shows early signs of a potential golden cross. If the momentum continues, this could lead to a test of resistance, priced at $3.73, which could add more than $4.25.
SUI CMF remains negative, but shows potential recovery
SUI’s CMF is currently -0.06, with a significant recovery from -0.35 two days ago, although it has maintained a negative territory for the past four days.
The rise in CMF indicates that sales pressure is easing, which suggests that purchase interest may gradually return. Despite this improvement, negative values reflect that outflows still exceed inflows, indicating cautious market sentiment.
This lingering negative sentiment shows that the seller remains on the right path SUI Blockchainhowever, if buying pressure continues to grow, upward movement suggests a potential shift in momentum.
this Chaikin Currency Flow (CMF) is a volume-based indicator Measure buying and selling pressure by analyzing price and quantity data.
It ranges from -1 to +1, with positive values indicating purchase pressure and negative values indicating sales pressure. Typically, CMFs above the zero signal accumulate and bullish sentiment, while CMFs below the zero signal represent distribution and bearish sentiment.
The market is still leaning towards bearish due to its CMF of -0.06, but recovered from -0.35 SUI sales pressure Weakness. If the CMF can exceed zero, it may indicate a bullish reversal. However, if it stays negative or falls down again, it may indicate a continuation of the bearish trend.
Sui Ichimoku Cloud shows cautious optimism
Ichimoku Cloud Sui shows different prospects with signs of potential merger. The current cloud-leading span A (green line) is above the leading span B (orange line), indicating that it is bullish sentiment in the near future.
However, prices are currently trading in the cloud, indicating indecision and a lack of clear trend directions. When the price is in the cloud, it usually represents a period of merger or uncertainty because neither buyer nor seller has complete control.
The green cloud ahead reflects some bullish momentum, but its thin clouds indicate that weak trends are easily reversed.
The purple Tenkan-Sen line is located below the orange Kijun-Sen line, which usually indicates bearish momentum. However, the gap between them is narrowing, which shows that if Sui prices continue to rise.
This crossover may indicate a momentum shift towards a bull. The Chikou Span (green line) is above the price action, exacerbating current bullish sentiment, but its close distance to the candles suggests that the momentum is not strong.
Overall, the Ichimoku setup shows cautious optimism, and a bullish breakout is likely to occur if the price can move on the cloud. However, if it doesn’t do that and breaks under the cloud, bearish pressure may recover.
SUI can recover $4 soon
Although price It has been rising over the past 24 hours, and its EMA line is currently bearish, with short-term EMA below long-term EMAS. This consistency reflects a general bearish trend, indicating that sellers remain in control.
However, short-term EMA shows an upward trajectory, indicating a potential shift in momentum. If these short-term EMAs are in the long term, forming a golden cross, SUI can test resistance $3.73.
If it breaks through this level, SUI can continue to rise until $4.25, marking the first breakthrough that has exceeded $4 more since the end of January. This bullish crossover may attract more buying interest, confirming a reversal of the bearish trend.
On the other hand, if the upward momentum gradually disappears and the short-term EMA fails to outperform the long-term trend, the bearish trend may continue. In this case, SUI can retest the support zones of $3.08 and $2.86.
If these levels are destroyed, Sui may drop furtherpossibly as low as $2.39.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
