SUIUSDT → False breakdown of support before growth

13 Mei

SUIUSDT has entered a consolidation phase within a bullish trend. The chart shows a zone of interest and a trigger area that are worth paying attention to...



The coin looks quite positive. An upward trend is forming, which is also supported by the growth of Bitcoin and a relatively positive fundamental background.
Technically, SUI is consolidating between 4.110 and 3.811. Below the support level, a huge liquidity pool has formed, which has not yet been tested. There is a high probability of a false breakdown before the growth continues, but if the market turns out to be more aggressive, buyers may not let the price fall to 3.811, in which case we can consider a breakout of the resistance at 4.11-4.275 and consolidation of the price above these levels with the aim of continuing growth.

Support levels: 3.811, 3.667
Resistance levels: 4.11, 4.275

The movement of Bitcoin shows that the market is gathering liquidity as part of a local correction against the backdrop of a bullish trend. Yesterday, we all witnessed a local liquidation, but there are no reasons for a decline yet. SUI, in an ideal scenario, may test support at 3.811 and form a false breakdown before continuing to grow.

Best regards, R. Linda!

14 Mei

Dagangan aktif

Excellent, a resistance retest is forming and the market is confirming it.
If there is no drop to support and the price continues to consolidate in the upper half of the current range, then we can safely consider a breakout of 4.11 and growth.