2024-9-21 01:30

According to the insights shared by crypto trader @DaCryptoGeneral, the price of SUI is currently exhibiting aggressive upward movement, approaching a significant resistance level. The trader notes that the price is poised to flip the $2.2 level, setting a target of $4.5 for the short to mid term

The recent chart for SUI/USDT on Binance highlights a strong uptrend, with the price rising sharply from approximately $0.40 in June to its current price of $1.53. This aligns with @DaCryptoGeneral’s observation of the aggressive price action

.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} Celebrate Dogecoin and Make Big Gains with Doge2014!.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}

Doge2014 raises 450K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +Show less – Key Resistance Level and Price Target

The trader identifies $2.2 as a critical resistance point, which the price is nearing. The chart indicates that once this level is reached, there could be a minor retracement before attempting a breakout. @DaCryptoGeneral believes that flipping this level is crucial, as it would potentially convert it into support for further upward momentum.

Following a successful breakout above the $2.2 resistance, the trader projects a bullish move towards a target of $4.5. The chart’s upper horizontal line aligns with this projection, indicating a future resistance point. The dotted line on the chart visualizes a potential upward trajectory, suggesting continuation after surpassing $2.2.

Read Also: MicroStrategy Goes On a Massive Bitcoin Buying Spree – Here’s Their Profit At Current BTC Price

Short-Mid Term Outlook

The trader’s forecast for the short-to-mid-term target of $4.5 is supported by the bullish trend evident in the chart. The current price action suggests that a healthy rally could persist, contingent upon breaking the pivotal $2.2 resistance level.

Additionally, SUI has recently cleared a descending trendline, which further confirms the bullish sentiment following a breakout in August

DaCryptoGeneral outlines a cautious accumulation strategy, advising to add a small amount at the current market price (CMP) while reserving larger purchases for after the breakout.

This strategy reflects the trader’s view that $2.2 is a crucial level, and they are waiting for confirmation before committing additional funds. A successful breakout from this resistance is anticipated to attract increased buying volume and momentum

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.

The post This Crypto Trader Predicts SUI Price Will Hit $4.5 ‘Short to Mid Term’ – Here’s Why appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »