SUI technical Analysis

9 lug

Sui price chart surged and showcased a rally of more than 500%, from $0.35 on October 20th, 2023, to $2.18 by March 27th, 2024. But to proceed further, it failed to sustain, and the SUI's back door was opened, which led to a nearly 50% gains drop in the next 15 days.
Thereon, the price tried seamlessly to hold the $0.910 level but failed after June 15th, 2024, as BTC slipped its $65000 support. Now, the price seems like sustaining at a crucial level of $0.60, where an earlier rally popped out.
Looking at the indicators, they show nothing much that has not already been on the price chart. For the MACD below zero line, dynamic resistances of EMA pushed the price down, and RSI at 36.58, signifying the bull's presence.
Therefore, if looking at the broader picture, the sustenance on $0.60 gets followed by larger bulls' interest. The nearest resistance would be at $0.91, and $1.38, respectively.
However, if the SUI loses its traction on the $0.60 price level, the deterioration could stretch toward the $0.36 level.