SUI - Possible Pullback to $1.20 to $1
SUI Network skyrocketed and has recently been the most hyped coin.
In our last update, we anticipated a breakout when it was trading around $1
SUI has just undergone 83 million USD worth of token unlocks.
Technical Outlook:
With
BTC dominance rising as Bitcoin corrects, we expect a broader pullback.
On the weekly timeframe, price has hit a significant resistance level.
4-hour timeframe: There was a strong rejection, and it is now trading around the daily Point of Control (dPOC). If it loses the monthly Point of Control (mPOC) at $1.70, there is a higher chance it will revisit the $1.20 to $1 (breakout area)
In our last update, we anticipated a breakout when it was trading around $1
SUI has just undergone 83 million USD worth of token unlocks.
Technical Outlook:
With
BTC dominance rising as Bitcoin corrects, we expect a broader pullback.On the weekly timeframe, price has hit a significant resistance level.
4-hour timeframe: There was a strong rejection, and it is now trading around the daily Point of Control (dPOC). If it loses the monthly Point of Control (mPOC) at $1.70, there is a higher chance it will revisit the $1.20 to $1 (breakout area)
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Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
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