📈 Sui Network (SUI) has rallied nearly 500% since September, showcasing a strong bullish trend. Currently trading within a range, SUI dipped 8.6% in the past 24 hours, following Bitcoin’s 4.8% drop. Despite this, SUI’s long-term outlook remains bullish, with traders eyeing the $5.38 target.
📊 Bullish Indicators:
SUI has been forming higher highs and lows since October, breaking through and retesting the $0.9–$1 resistance as support.The Ichimoku Cloud shows strong support at $3.2 and $4.1, highlighting continued upward momentum.Short-term support sits at the 23.6% Fibonacci extension level, with volatility expected but bullish momentum intact.
📉 Consolidation Phase:
Recent trading volume has slightly declined, reflected in a slowdown on the A/D indicator. This suggests that SUI bulls might be waiting for the right moment to drive the next impulse move.The price has ranged between $4.3 and $5 over the past week, creating liquidity pockets at both levels.
🎯 Key Levels to Watch:
Support: $4.5 (now a demand zone).
Resistance: $5.38 (next target).
A break above $5.38 could trigger a fresh rally, while a dip below $3.5 would signal bearish pressure.
🔥 With strong momentum and bullish indicators, SUI is poised to test new highs. Traders should monitor key levels as consolidation continues. 🚀📈
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