SUI PRICE ANALYSIS & PREDICTION (December 21) – SUI Sets To Break Higher Following A Major Recovery, Up 20% Today

Following this week’s meltdown, SUI posted minor losses but recovered after locating support above a four-month rising trendline. It is trading at resistance and is now on the verge of breaking out. As several altcoins witnessed major losses in the past few days, SUI saw a little drop and quickly recovered after testing the descending trendline, which has been providing support for the market since August. On the daily chart, the bulls appeared back in control and now look set to cross over the $4.9 resistance level that initiated drops this week. A successful cross-over there should fuel bigger growth in the upcoming week. Rejecting this resistance could slow down things for the bulls. However, it is important to note that the overall market structure is still looking bullish from a mid-term perspective as SUI maintained a higher high and higher low pattern on the daily chart. The steady rise in the daily volume indicator is another factor to consider for more growth. While the bears continue to suffer loss daily, a dip below the ascending trendline could trigger a serious sell-off capable of activating a major retracement in the market. This should give the bears temporal control before rising back. But for now, SUI’s bears are looking for more gains! SUI Key Levels To Watch Source: Tradingview SUI is currently on the verge of breaking out of the weekly $4.9 high. In anticipation, the next key level to watch for a surge is $6, $8 and $10. If by any chance the price slips back to yesterday’s low with a break below the white support trendline, the immediate support level to watch would be $2.973, followed by the $2.37 level. Below it lies $1.77. Key Resistance Levels: $4.9, $6, $8 Key Support Levels: $2.973, $2.37, $1.77 Spot Price: $4.89 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