Sui’s trend continued to advance higher despite market’s correction. It has posted an impressive gain so far, making it one of the best-performer in the past week. The price is up again after dropping in the last two days.
Reaching a multi-month high of $1.44 in the mid-month, SUI pulled back for a week and pinned support above $1 with a doji candle. An imbalance sets in for the token and the price climbed back to the top.
The price is now bouncing back after going through a slight drop last weekend. It is trying to retake the $1.49 level, held as resistance during weekend drops. An increase above this resistance level should fuel more buying pressure in the next couple of days.
Meanwhile, the latest surge is fueled from a minor support level of $1.31. If the price drops off this support, it may roll back to the monthly bounced level. A crackdown from there could lead to a 50% correction before picking up.
However, it is important to note that SUI’s bullish trajectory is still intact from a short-term trend. In fact, the daily volume indicator is sill on the rise, suggesting more increase lies ahead.
SUI Key Levels To Watch
As the price charges back towards last week’s high, a break above it could trigger an increase to $1.6 and $1.8 before testing the $2 resistance level.
A drop below the mentioned minor support could bring the price back to $1, which currently serves as the monthly pullback level. If the price slips below this level, it may encounter support at $0.9 before dipping to the $0.72 level.
Key Resistance Levels: $1.499, $1.6, $1.8
Key Support Levels: $1.31, $1, $0.72
- Spot Price: $1.43
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/sui-price-analysis-prediction-january-30-suis-bullish-trajectory-remains-intact-despite-correction-up-40-weekly/