Token

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The post <a href="https://coinpedia.org/price-analysis/sui-token-price-eyes-1-2-surge-will-september-bring-a-breakout/" rel="noopener noreferrer nofollow">SUI Token Price Eyes $1.2 Surge: Will September Bring a Breakout?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the altcoins market bouncing back near the week and month end, the SUI token price teases a comeback to$1. Trading below the 50D EMA, the bullish resurgence with a morning star eyes a breakout run to $1. Will the extended rally result in a jump to $1.2 in September’s first week?
<h2 class="wp-block-heading" id="h-sui-token-at-crucial-crossorads">SUI Token At Crucial Crossorads</h2>
With a sharp recovery in the second week of August, the SUI price jumped 90% in a week from $0.53 to the 200-day EMA near the $1. psychological mark. The bull run resulted in a breakout of the falling channel pattern, reflecting the prevailing downtrend.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXckdsu3F7V0T2RsA3sdag_QrazrCvXf3tRkinlwVCVZUbw9iJFoPaBEm49k3OlDVWnfeGGrc9zJAVA5Es0F56IkyRkDdu3nQRmPc4d8LIV_NUNW1fM4Fytz55xNFFJiC0lf6x91zZm4ufop2WSXqYWNscjn?key=CNU0go3HmY622D1JMpQ6aQ" alt="">
 <figcaption class="wp-element-caption"><a href="https://www.tradingview.com/x/Q9A0RyGE/" rel="noopener noreferrer nofollow">Tradingview</a>
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</figure>
However, the bullish momentum failed to sustain dominance above the dynamic resistance of the 200-day EMA, resulting in a sideways trend. The consolidation range led to a double-top formation in the daily chart, with peaks formed at the $1.001 psychological mark. The neckline stood at $0.80.&nbsp;
With a four-day crash in the SUI token, the bearish powers led to a double-bottom breakdown. However, the failed bearish continuation led to lower price rejections near the $0.75 mark, close to the 23.60% Fibonacci level.&nbsp;
With a 3.52% jump last night, the SUI token forms a Morningstar pattern to retest the broken 50-day EMA. However, the 1.14% intraday pullback puts the altcoin back to $0.82.&nbsp;
Technical Indicators:
EMA: The 50-day and 200-day EMA maintain a bearish alignment in a sideways trend after the Death Cross event in May 2024.&nbsp;
Relative Strength Index: The daily RSI line is below the halfway line at 47%, with a bearish inclination in the 14-day SMA.&nbsp;
<h2 class="wp-block-heading" id="h-will-sui-price-hit-1-2">Will SUI Price Hit $1.2?</h2>
With a sideways shift, the bearish turn of events, the altcoin is stuck between the 23.60% and 38.20% Fibonacci levels at $0.73 and $0.89, respectively. A breakout of either side will determine the upcoming trend.&nbsp;
The potential bullish targets for the altcoin are at 50% and 61.80% levels at $1.00 and $1.23, respectively. Below the 23.60% level, the next support level is at $0.64.

SUI Token Price Eyes $1.2 Surge: Will September Bring a Breakout?

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