Prior to the latest move, SUI experienced a small reduction earlier this week and posted an over 10% loss in a single day. It later regained strength after locating a solid ground level and is now looking very bullish on the day. Ending last month’s indecisive, SUI showed signs of strength this month and continued to maintain a higher high and higher low movement on the daily chart. It broke higher and encountered resistance at $4.5. The crypto traded calmly for three days and lost grip. This triggered a quick drop to $3.2 but the price recovered after rejecting the price level. It initiated a fresh surge and flipped through the aforementioned resistance to where it is sitting at around $4.8. Looking at the current daily candle formation, trading volatility appears high on the day. A massive explosion from the current trading level could see the price test $10 in the next few days. The $5 level could pose a little threat to the bulls on a lower timeframe before advancing higher. However, it is important to note that the steady increase in the volume indicator has positioned the asset in a more bullish condition. If it drops, the price may pull back to test the rising trendline before rebounding. No signs of selling at the moment. If the price breaks below this rising trendline, SUI may temporarily be subject to a bearish action for a while. SUI Key Levels To Watch Source: Tradingview Pushing through the immediate $5 level in the ongoing surge, the higher resistance level to watch for a test is $6, followed by $7 in the near term. Right now, the rising trendline is providing support. If the price falls below it, the parallel support to watch for a drop is $2.973 and $2.37. There’s also support be $1.77 in case of a sell-off. Key Resistance Levels: $5, $6, $7 Key Support Levels: $2.973, $2.37, $1.77 Spot Price: $4.79 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: loft39studio/ 123RF // Image Effects by Colorcinch
