SUI Approaches Major Resistance at $4.80 After Daily Chart Breakout
Main Idea
SUI is approaching a major resistance level at $4.80 after breaking out of a bullish flag pattern on the daily chart, with increased trading volume and positive technical indicators supporting further upward momentum.
Key Points
1. SUI has broken out of a bullish flag pattern, targeting $4.80, a potential 19.28% upside from the breakout point.
2. Trading volume reached $1.75 billion with a 9.35% price gain, indicating increased market activity.
3. The Relative Strength Index (RSI) stands at 62.95, suggesting bullish momentum without excessive buying pressure.
4. The MACD line is at 0.2230, slightly below the signal line, but previous patterns suggest potential for further price increases.
5. SUI's market capitalization is $13.81 billion, with a fully diluted valuation (FDV) estimated at $39.9 billion.
Description
SUI targets $4.80 after breaking out of a bullish flag pattern on the daily chart. Trading volume hits $1.75B with a 9.35% price gain, boosting market activity and momentum. RSI at 62.95 and MACD signals show bullish momentum without overbought conditions. A bullish flag pattern on the Sui (SUI) daily chart has drawn attention, suggesting a possible breakout that could send the token toward $4.80. In a recent tweet, crypto analyst Carl Moon shared a TradingView chart based on Bybit’s SUI/USDT pa...
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