SUI/USDT Strong Upside Correction Faces Challenges

Over the past five sessions, the SUI/USDT market has experienced a significant upside correction, pushing through key technical levels. However, the current session appears to be halting this upward momentum, threatening that the trend may regress.

Sui Statistics:
Current SUI Price: $0.9164
Sui Market Cap: $2,321,717,834
SUI Circulating Supply: 10,000,000,000
Sui Total Supply: 10,000,000,000
SUI CoinMarketCap Rank: 31

Key Price Levels:
Resistance: $1.250, $1.500, and $1.750
Support: $0.800, $0.500, and $0.300

SUI/USDT Overall Short-term Trend Remains Bullish

The Sui token has seen a significant price increase after finding support around the $0.500 mark. Since then, the price action has been corrected upwards. Once the price found support above the $0.6000 level, a notable surge occurred, pushing the market through the $0.8000 mark.

Price action continued to rise, moving through the 100-day Exponential Moving Average (EMA), but faced rejection at that point. This rejection appears to be in its early stages, as trading activity remains above the 100-day EMA curve. The Stochastic Relative Strength Index (SRSI) indicator lines are still in the overbought region, maintaining much of the integrity of the upside correction.

Sui Maintains Its Upward Focus

Price action in the SUI/USDT 4-hour market has continued its upward trajectory. The last two sessions have been bullish, as indicated by the color of the price candles. This has allowed the market to smoothly continue the overall upside correction.

Consequently, the token now trades above all the EMA curves, while the SRSI indicator lines have delivered a bullish crossover deep in the oversold region. This suggests that price action is likely to continue upward. At this point, market participants may consider using crypto signals to target the $1.000 mark for short-term gains.

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