SUI/USDT Consolidates Near $4.00 Key Resistance After Bullish Surge

SUI/USDT Price Analysis – July 16

The SUI/USDT shows a period of consolidation following a significant bullish surge. The price action currently testing a crucial resistance level that could dictate its next directional move.

SUI/USDT Key Levels

Support Levels: $3.2130, $2.7980
Resistance Levels: $4.2469, $4.0060

SUI/USDT Long-Term Trend: Bullish (Daily Chart)

The market embarked on a significant upward trajectory from late June, breaking decisively above key resistance levels at $2.7984 and $3.2137. This suggests a clear shift in market sentiment, with buyers firmly taking control and pushing the price higher. The asset has now arrived at a critical juncture, hovering around the $4.00 psychological level and testing the major resistance at $4.2469. This current consolidation phase near the recent highs signifies that while bullish momentum is strong, the market is pausing to digest these gains and potentially prepare for another leg up or a minor correction.

As of the chart snapshot, SUI/USDT is trading at approximately $4.0062, showing a slight decrease of -2.33%. This long-term perspective reveals that after a substantial downtrend throughout June, the market has found strong buying interest, driving a powerful recovery. The price action demonstrates that the bearish control witnessed in early June has been decisively overthrown by an influx of buying pressure, effectively reversing the downtrend. The immediate focus for the market is to either sustain a breakout above $4.2469, confirming further upside potential, or to retrace to find stronger support before another attempt. The MACD shows a bullish crossover with both the MACD line and the Signal line well above zero and trending upwards. It is also accompanied by growing green histogram bars.

SUI/USDT Short-Term Trend: Bullish (4-Hour Chart)

The Momentum on the 4-hour chart is at 0.1151. While still positive and indicating bullish pressure, it shows a slight decrease from its recent peak, hinting at a temporary cooling off of the intense buying momentum seen in the immediate past. Traders might interpret this as a sign that while the trend is still up, a brief pullback or sideways consolidation could occur before the next directional move.
The MACD shows the MACD line and Signal line still positive but with a narrowing gap, and the histogram beginning to turn lighter green.

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