Sui Rally Approaches Major Resistance as Momentum Wanes

SUI/USDT Price Analysis – August 13

Sui market has been characterized by a powerful bullish rally from its early August lows, with buyers firmly establishing control of the trend. This impressive advance has now brought the price to the upper boundary of its long-standing trading range. As it approaches this critical resistance, however, the rally is showing signs of exhaustion, with short-term indicators signaling that a corrective pullback or consolidation is likely.

Sui Key Levels

Support Levels: $3.2137, $2.7980
Resistance Levels: $4.2460, $5.000

Sui Long-Term Trend: Bullish (Daily Chart)

SUI/USDT shows a market in a strong bullish phase within a larger trading range. After successfully defending the $3.2137 support level, buyers have orchestrated a powerful rally, erasing the losses from the prior corrective leg and demonstrating significant strength. Currently trading at $4.0990 key zone, the market is now approaching the formidable range-high resistance at $4.2460. This level represents the most significant hurdle for the bulls. A decisive breakout and close above this zone would signal a major bullish continuation and an exit from the multi-month range.

Conversely, a rejection here would confirm the range is still intact and could lead to a rotation back down. The Momentum indicator is well into positive territory at 0.5094, validating the strength of the rally. However, the Stochastic oscillator is deep in the overbought region. This confirms the dominance of the bulls but also indicates the market is highly overextended and vulnerable to a pullback as it meets major resistance.

Sui Short-Term Trend: Bullish (4-Hour Chart)

The market is now likely to consolidate and build energy before making its next attempt to either break the resistance or correct further.
The indicators on this timeframe are signaling the start of this pullback.

The Momentum indicator, while still positive, has peaked and is now rolling over, confirming a decrease in the intensity of buying pressure. More significantly, the Stochastic oscillator has executed a bearish crossover from the overbought region. This is a clear short-term sell signal that suggests the initial buying burst is exhausted and a period of consolidation or correction is now underway.

Make money without lifting your fingers: Start using a world-class auto trading solution 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.