cryptopotato.com
$SUI momentum appears to stall at this time after skyrocketing by double digits last week.
Key Support levels: $3.2, $3
Key Resistance levels: $3.4, $4.1
1. Buyers Face Key Resistance
After an impressive rally, $SUI made a local top of around $3.9. Since then, the price entered a correction which sent it under the key resistance at $3.4. This level used to act as support, but over the weekend, $SUI lost it and turned into a resistance.
2. Short-Term Pullback
In late April, $SUI almost doubled in less than a week. This made a pullback likely in May, which has transpired in the past few days with a 7% drop. This corrective move may last for some time, considering the recent pump. $SUI has key support at $3.2 and $3, where buyers could put a stop to the downtrend and retake the initiative.
3. Volume Makes Higher Highs
The good news, despite the current price action, is that $SUI’s volume is making higher highs. This is bullish, and there is a good chance this cryptocurrency may go higher after this pullback is over. If so, $SUI will aim to reclaim $3.4 as support and then target $3.9 and $4.1 next.
