After undergoing a short pullback some weeks back, SUI resumed buy a few days ago following a 15% gain in the last 24 hours. This puts the asset on the top-gainer spot, leading the daily altcoins recovery. SUI’s overall market structure remains bullish on the daily timeframe following a higher high and higher low formation in the past months. But during the mid-December crash, it took a short break in buying and pulled back to crucial rising trendline, which has been serving as support since August. Though the drop was not much compared to other large cap altcoins that corrected by over 50%. Respecting this support line, the price bounced back this week and broke higher following an impressive gain in the 24 hours. The latest breakout indicates a fresh buying phase, and as we can see on the daily chart, the bulls are set to claim more highs from a technical perspective. The only condition for bearish right now lies in a rejection of the latest move, which could bring a little slowdown in the bullish move. Looking back from where the price started to pick up in August 2024, SUI is up by over 10x ever since. More growth should be expected! SUI Key Levels To Watch Source: Tradingview There is no major resistance for SUI at the moment. The potential level to consider for a test is $6. Higher levels to watch above it are $7 and $8. Aside from the ascending trendline that provided support, the $4 level is a crucial horizontal support to watch for a drop. If the price dips below it, the lower level to keep in mind is $2.973, followed by $2.37. Key Resistance Levels: $6, $7, $8 Key Support Levels: $4, $2.973, $2.37 Spot Price: $5.17 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
