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Today, the SUI/USDT market experienced a price increase of over 5%, marking a retracement in the otherwise bearish trend. This upward movement suggests that bullish forces are beginning to take hold.
SUI Statistics:
Current SUI Price: $0.8810
Sui Market Cap: $2,261,314,478
SUI Circulating Supply: 10,000,000,000
Sui Total Supply: 10,000,000,000
SUI CoinMarketCap Rank: 31
Key Price Levels:
Resistance: $0.9000, $1.200, and $1.500
Support: $0.8000, $0.7500, and $0.7000
SUI/USDT Price Action Sees a Minimal Upward Rebound
Over the past three sessions, the Sui market has been bearish, with moderate volatility. However, today’s trading has reversed that trend, as the token recorded a price increase of 5.10%.
Notably, this upward retracement occurred above the middle band of the Bollinger Bands indicator. On the other hand, the Stochastic Relative Strength Index (SRSI) indicator lines still show a downward trajectory, which can be attributed to the bearishness that has dominated the market in recent sessions.
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Sui Price Upside Rebound Occurs Off an Important Baseline
Price action in the SUI/USDT market has rebounded off the lower band of the Bollinger Bands indicator. Interestingly, buyers have led the market for about three sessions, as evidenced by the appearance of green-priced candles. Consequently, the SRSI indicator lines are rising smoothly toward the 50 level.
However, it’s important to note that price action remains below the middle band of the Bollinger Bands on the 4-hour chart. This suggests that crypto signals targeting the middle band of the Bollinger Bands ($0.9150) may still offer safer short-term gains.
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