SUI Defends Key Trendline, Eyes Potential Upside Breakout
SUI is demonstrating technical resilience by forming a pattern of higher lows, suggesting accumulation and building bullish momentum. The token's successful defense of its trendline has reduced immediate selling pressure, potentially setting the stage for a mid-term rally.
Market analysts note that sui appears to be recovering from recent false breakouts and liquidity tests, with current price action hinting at a possible trend reversal. A decisive breakout above key resistance levels could trigger a significant influx of buying interest.
Currently trading at $1.47 with a daily volume of $807 million, SUI's modest 0.84% gain reflects a cautiously optimistic market. The asset's market capitalization stands at $5.5 billion as traders await confirmation of the anticipated breakout scenario.
