Technical Analysis
SUIUSDT has seen significant growth, surpassing all initial targets. According to technical analysis principles, the pair is now poised for a correction to test the liquidity zone between $1.90 and $2.30.
Potential Scenarios:
* Bullish Scenario: After a correction, the price could resume its upward trend and potentially set new all-time highs (ATH).
* Bearish Scenario: A breakdown below the critical level of $1.60 could signal a potential reversal and further downward movement.
Support and Resistance Levels:
* Support: $1.60, $1.90 - $2.30
* Resistance: Previous ATH
Conclusion:
While SUIUSDT has shown strong bullish momentum, a correction is likely to occur. Traders should monitor the price action around the critical support level of $1.60 to gauge the potential direction of the next move.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
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