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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
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Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Can SUI Reach $2.18? Bullish Pressure Builds Toward Key Milestone

Godspower Owie
Godspower Owie
10 months ago
3 mins read
SUI

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SUI is gathering bullish steam as it heads toward a possible breakout, with a notable milestone of $2.1825 in sight. Recent market activity suggests an upswing could be on the horizon, following a strong rebound at the $1.5 support mark. 

If the bulls maintain their momentum, SUI’s path might lead to a significant price advancement, signaling a promising opportunity for traders and investors alike. However, the question remains; will the pressure be enough to push past this critical resistance?

This analysis aims to examine SUI’s current bullish momentum and assess whether rising pressure could drive the price to a potential target of $2.1825. By analyzing recent price movements, support levels, and resistance zones, this piece seeks to provide traders and investors with insights into SUI’s capacity for a breakout

SUI Bullish Surge Aims At $2.1825 Mark

Following its recovery at $1.5, SUI’s price on the 4-hour chart has continued to build pressure, approaching the $2.18 mark with a focus on breaking past it. SUI has also moved above the 100-day Simple Moving Average (SMA), signaling a strengthening upward trend that could pave the way for a potential breakout.

SUI
SUI drawing closer to $2.18 after a rebound at $1.5 | Source: SUIUSDT on Tradingview.com

The 4-hour Composite Trend Oscillator shows bullish signs for SUI, with its SMA and signal lines rising above the zero line, indicating a growing positive trend. In addition, the widening spread between these lines implies strong support for a sustained uptrend, reflecting increased buying interest as the asset approaches key resistance levels.

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Analyst Sets $2.50 Target For SUI Following 30% Weekly Gain – Details

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Also, on the daily chart, SUI has demonstrated firm upward momentum, marked by a bullish candlestick pattern after a successful rebound at $1.5. Currently trading above the 100-day SMA, SUI’s position not only confirms an optimistic phase but also suggests that previous resistance levels may now act as support, creating a solid foundation for future gains.

SUI
SUI showing strong upward push following a rebound | Source: SUIUSDT on Tradingview.com

Finally, a detailed analysis of the Composite Trend Oscillator formation on the 1-day chart reveals fresh bullish movement for SUI. The indicator’s signal line is aiming to cross above the SMA line, a classic key indication suggesting robust buying interest. Positioned above the zero line, this crossover attempt indicates that positive sentiment is likely building, with the potential to drive prices more on the upside.

Support And Resistance Levels To Watch

On the upside, resistance around $2.18 presents the next hurdle for SUI. Successfully breaking above this level could pave the way for higher targets, including its all-time high of $2.36. A breach of this resistance would significantly increase the possibility of reaching new price milestones.

Related Reading

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SUI Eyes Bullish Breakout As Crypto Traders Go Long Above $2 – What’s Next?

10 months ago

However, if the cryptocurrency fails to surpass the $2.18 resistance level, it may initiate a downward move toward $1.5. Should it break below this support, the decline could extend further to the $1.42 support level and beyond.

SUI
SUI trading at $2.03 on the 1D chart | Source: SUIUSDT on Tradingview.com
Featured image from Shutterstock, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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