SUIUSD "SUI is showing signs of breaking its bullish structure and is currently testing a critical level that could indicate a potential downward move. Recent developments, including yesterday's speech by former President Trump, have left the cryptocurrency community uncertain. While the speech did not address cryptocurrency, market sentiment has shifted, leading to speculation about a potential correction.
Several factors suggest a correction may be possible: Bitcoin is showing signs of a false breakout, and SUI's price action hints at a shift away from the uptrend. Currently, SUI is testing the 4.250 level, a key trigger point. A break below this level could lead to increased selling pressure, potentially resulting in a significant price decline.
Key levels to monitor:
Resistance: 4.490, 4.85, 5.13
Support: 4.20, 4.00
A retest of resistance levels or the previously broken channel boundary may occur, but sustained consolidation near 4.25 raises the likelihood of a breakdown. Traders should remain cautious and closely observe price action around this level."
SUIUSD Mon Jan 13 at 3:00 on the 4H chart fair value gap retested for support today at $4.35 on the 1H lower intervals and respected support on the 1D and 1W higher time intervals
Next target is at 18% above previous all time high.
SUIUSD doing well 💪 6USD next stop in current channel on a LTF. Hopefully it breaks this, flips it to support and goes for the upper side of the HTF within current channel and reach 10-25USD next 2-4 months.