$SUI /USDT: Critical Support Test! Bullish Reversal or Further Dip? 📉🚀
$SUI is currently facing some selling pressure on the 1H chart, trading at $1.4929. After failing to hold above the $1.535 level, the price is now testing the lower Bollinger Band.
Technical Breakdown:
Current Trend: Neutral to Bearish in the short term. The price is trading below the middle Bollinger Band ($1.495).
Support: Strong immediate support is at $1.461. If SUI holds this level, we could see a bounce back.
Resistance: The bulls need to break and close above $1.518 to regain control.
MACD: The MACD is showing a slight bearish crossover, suggesting caution is needed.
Verdict: The trend is currently leaning Bearish as long as it stays below $1.50. However, a successful hold at the $1.46 support could offer a great "Buy the Dip" opportunity for a reversal. Watch the volume closely!
Is SUI ready for a $1.60 comeback or heading to $1.40? Let’s hear your strategy! 👇
Disclaimer: Not financial advice. DYOR.
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