SUI / TetherUSLong
SUIUSDT potential Up trend continuation
SUIUSDT recently pulled back to the support level at $3.00, taking liquidity below last week's low. The market formed a descending triangle pattern, characterized by lower highs, indicating a price squeeze. A descending triangle is typically a bearish pattern that anticipates a downward trend breakout.
However, the market has broken above the downward trendline, suggesting a potential bullish reversal. If the price closes above this trendline, it may continue moving higher, following a contraction-expansion price action pattern. The target is the resistance zone around $3.83
However, the market has broken above the downward trendline, suggesting a potential bullish reversal. If the price closes above this trendline, it may continue moving higher, following a contraction-expansion price action pattern. The target is the resistance zone around $3.83
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.