bullish

2024

Resistance

Read

<p>SUI had a decent week with a 20% pump. This means the coin is now trading around the $0.9 level, which is still below the local top of around $1.05 set in August.</p>
<p>An analyst who goes by the name <a href="https://x.com/CryptoJobs3" target="_blank" rel="noopener noreferrer nofollow">“Crypto_Jobs”</a> posted three SUI charts on his Twitter account this morning, discussing where the SUI price might be headed next.</p>
<h2 class="wp-block-heading" id="technical-analysis-breakdown">Technical Analysis Breakdown</h2>
<p>Chart Structure: All three charts show a consistent descending channel (or bull flag formation) on the 4-hour and daily timeframes. A breakout of this structure could signal a potential upward movement.</p>
<p>Support and Resistance Levels: There is a strong support zone marked between $0.8600 and $0.8500, making it an ideal entry point for long trades. The upper resistance key level is identified at $1.160, which represents the target for an upward breakout.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SUI</a> – Bull flag [H4]?? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/23f3.png" alt="⏳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>The daily view looks strong compare to many other <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#altcoins</a> .<br><br>A breakout is possible [mid term] <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Big support zone for potential long entry: 0.8600$ – 0.8500$<br><br>Upper key resistance: 1.160$ <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/sui?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#sui</a> <a href="https://twitter.com/hashtag/trading?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#trading</a> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> <a href="https://twitter.com/search?q=%24btc&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$btc</a> <a href="https://twitter.com/hashtag/dyor?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#dyor</a> <a href="https://t.co/V8F2IuejCl" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/V8F2IuejCl</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9.png" alt="🧙" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto_Jobs <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9-200d-2642-fe0f.png" alt="🧙‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"> TA &amp; FA <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoJobs3) <a href="https://twitter.com/CryptoJobs3/status/1833016784498094538?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h3 class="wp-block-heading" id="daily-chart-insights">Daily Chart Insights</h3>
<p>The daily chart depicts a consistent bearish trend since mid-July, but it is currently consolidating within the structure. The chart suggests a potential breakout to the upside, aiming toward the $1.160 resistance level. The downward trendline shows weakening momentum, and the next leg up could be a mid-term bullish signal.</p>
<p>Key levels to watch include resistance around $0.9577 as the nearest resistance point, and support between $0.8500 to $0.8600 as a strong area of buyer interest.</p>
<h3 class="wp-block-heading" id="4-hour-chart-analysis">4-Hour Chart Analysis</h3>
<p>In the 4-hour chart, price movements show <a href="https://www.investopedia.com/ask/answers/05/052905.asp#:~:text=Bullish%20divergence%20occurs%20when%20the,indicating%20potential%20exhaustion%20among%20sellers." target="_blank" rel="noopener noreferrer nofollow">potential bullish divergence</a>, and the analyst draws attention to a possible breakout from the current range. The upper trendline rejection at around $0.9577 signals strong resistance. Once this area is cleared, the price could test higher levels.</p>
<p>Currently, the price is testing the resistance level at $0.9183. A break above this could trigger the next upward move.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/xrp-price-bottom-in-sight-ripple-analyst-predicts-rebound-amid-bearish-signals/" target="_blank" rel="noopener noreferrer nofollow">XRP Price Bottom in Sight? Ripple Analyst Predicts Rebound Amid Bearish Signals</a></strong></em></p>
<h2 class="wp-block-heading" id="sui-price-prediction">SUI Price Prediction</h2>
<p>A clear bull flag is forming, which suggests bullish continuation. This pattern is typically followed by an upward breakout. The SUI chart displays two possible scenarios:</p>
<ol class="wp-block-list">
 <li>A bullish breakout scenario where the price pushes above the resistance of $0.9183, targeting the $1.160 level.</li>
 <li>A bearish rejection, <a href="https://captainaltcoin.com/sui-price-future-gloomy-despite-ongoing-rally-risks-double-digit-dip/" target="_blank" rel="noopener noreferrer nofollow">bringing the SUI price down</a> to the support zone between $0.8600 and $0.8500, after which a rebound could follow.</li>
</ol>
<p>In summary, the current chart structures suggest bullish momentum in the mid-term. The formation of a bull flag supports the possibility of a breakout. The $0.8600 to $0.8500 range is identified as a strong support zone, making it an area of interest for potential long positions. The upper key resistance level of $1.160 is the main target for a bullish breakout.</p>
<p>However, traders should be aware that a rejection at $0.9183 or a break below $0.8500 could signal bearish potential, potentially bringing the price towards the lower support levels marked at $0.7366 and $0.6805.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>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. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/where-is-the-sui-price-headed-next-after-a-20-pump/" rel="noopener noreferrer nofollow">Where Is the SUI Price Headed Next After a 20% Pump</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Where Is the SUI Price Headed Next After a 20% Pump

Table of Contents

CaptainAltcoin

Other articles published on Sep 9, 2024

Floki's Valhalla Partners with OG Esports as Official Jersey Sleeve Sponsor

TON, SOL holders make a massive play on new presale star

Solana Memecoin Trump Loves Tesla (TRUMPTES) to Skyrocket 16,000% Ahead of Exchange Listing

Kalshi labels CFTC’s effort to stop election listing as ‘meritless’

Bitdeer Acquires Bitcoin Mining Facilities in Norway for $30 Million

Institutional Investors Drive Crypto Market Recovery

Join our free newsletter for daily crypto updates!