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SUI, one of the leading Altcoins in this course, targets the key barrier $ 4.00 after the last price increased. Amid the main support, the analyst notes that the cryptocurrency can lead to a decisive level re -testing before the next expansion.
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Sui jumping eyes 17 %
Over the past two weeks, SUI has jumped nearly 85 %, dismantled over a decisive $ 3.80 barrier and restored the multi -declarative direction. While recovering the Q1 market, SUI lost the main support levels and recovered more than 68 % of its highest level in January of $ 5.35 to its lowest level in six months worth $ 1.71.
In March, the cryptocurrency tried to restore the barrier of $ 3.00, driven by institutional adoption news, but failed to confirm the penetration.
Before opening the last distinctive symbol, the cryptocurrency witnessed its price increased from a brand of $ 2.11 and restored resistance of $ 3.00 for the first time since February, and gathered to the highest level in two months at $ 3.87.
Its bullish momentum slowed after opening 88.34 million Sui icons, at a value of $ 300.4 million, on April 30. The cryptocurrency witnessed 8.5 % recovery, decreased from $ 3.51 to $ 3.21.
On Monday, the SUI price jumped by 5.2 %, and the support of $ 3.40 with the last sale pressure. Amcryptoalex analyst Vision Altcoin can reach resistance from 3.90 to 4 dollars after the lock is canceled, if the main lips, Bitcoin, holds a mark of $ 94,000.
Meanwhile, analyst Lyrter male Sui can witness a bullish continuation of his last performance after re -testing the support area from 3.20 to $ 3.25.
The analyst concluded that “if the momentum turns, we will test the highest levels at any time. Sui has proven again and repeatedly that it does not need a lot of pumping.
Is it coming 3.25 dollars coming?
Analyst Sagul from Altcryptogems Proposal Sui 3 (PO3) is likely to form a low time frame. Po3 style divides the price cycle into three stages: accumulation, manipulation and distribution.
In the accumulation stage, monotheism occurs near the last top after a strong price performance. At the same time, the manipulation phase believes that the price of the distinctive symbol is less than the level of accumulation support and is trading within a lesser range of the recent region. The distribution stage consists of strong prices, with momentum and participants entering the market.
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According to the analyst, SUI started the accumulation phase after its recent outbreak, hovering between the price range from 3.25 to $ 3.85 during the next few days. Amid the low price of Sunday, the cryptocurrency began in the second stage, as it is less than the bottom border of the domain and circulated near this level throughout the day.
Since recovery of a brand of $ 3.25 today, SUI appears to have entered the distribution stage, which can see Sui support test $ 3.25 before height towards resistance $ 4.00. He concluded that he “monitored this support level test – or near it – as we might see an expansion after that.”
As of the writing of these lines, SUI is trading at $ 3.46, an increase of 56 % in the monthly time frame.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
