SUI's Bullish Breakout: A Wild Ride Through Resistance and Support

Coin WorldMonday, Mar 3, 2025 7:08 am ET

1min read

On March 3, 2025, sui experienced a significant price increase, breaking through its tight boundary at 14:45 UTC. Market participants had previously agreed on $2.85 as the price support, which was later confirmed as a lower green mark. However, $2.96 emerged as a resistance point after previous price tests led to the breakout. Following this, SUI demonstrated a powerful bullish breakout, overcoming resistance levels and producing a bull pack effect that drove the token price to reach $3.27 as the newest intraday high.

The market indicated a shifting trend through the formation of a bull pack, showcasing strong, increasing buyer demand. When prices reached the maximum resistance zone of $3.27, the market indicated a possible price reduction. The Relative Strength Index (RSI) exceeded 70 when altria broke out, thus entering the overbought range, which indicated a possible market correction. RSI returned to its normal zone after what had been anticipated. The price touched the $2.96 support point during UTC time 06:00, when the RSI broke below 30, indicating an oversold market condition.

The signal generated by the MACD at 15:00 UTC in the SUI price trend was a Golden Cross, which validated the powerful upward trend driving the breakout. The price touched the top resistance level of $3.27 before a Death Cross emerged at 18:00 UTC, signaling rising negative market momentum. SUI moved towards support when a second Death Cross formed at 06:00 UTC.

The price point at $2.96 (green line) held strong during the downward trend from when it reached $3.27, thus validating its importance. The price dropped through $3.10 (minor support) which intensified the decline before returning to its previous trading boundaries. The SUI price might conduct a possible support retest at $3.10, yet if it fails to sustain $2.96, the market could begin a more significant price drop to $2.85.

For SUI to sustain a bullish trend, it must keep $2.96 as support while also regaining $3.10. Resistance spanning from $3.27 to $3.40 will constitute a primary barrier to continuing an

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