SUI is gearing up for a critical move as bullish momentum builds, targeting the $1.16 resistance level. Buyers are showing renewed interest after a period of consolidation, driving the price higher and creating hopes for a potential breakout.
On the 4-hour chart, SUI shows strong positive momentum, trading above the 100-day Simple Moving Average (SMA) and displaying multiple bullish candlesticks. The Relative Strength Index (RSI) has climbed above the 50% mark to 69%, suggesting strengthening buying pressure.
Technical analysis of the 1-day chart reveals SUI is moving towards the $1.18 resistance level after a short-term pullback, trading above the 100-day SMA. The RSI signal line trends above the 50% mark, currently at 64%, indicating sustained bullish pressure.
A breakout above the $1.16 resistance level could open pathways to higher targets like $1.44 and an all-time high of $2.18. If rejected, SUI might find support near $0.8411 or experience further declines to other key support zones.
At the time of writing, SUI was trading at approximately $1.02, with its market cap and trading volume showing significant increases over the past 24 hours.
