Main Points:
Bitcoin (Btc) was combined after hitting the full time of $ 123,218. Although the BTC has not provided much soil, the falling dominance of the total capitalization of the crypto market shows that the money is flowing into the altcoins.
Will sui (Sui) Be one of the beneficiaries in this altseason? Let’s review the charts to find out.
Sui’s price prediction
Sui took the momentum after ruining more than 50-day simple moving average ($ 3.10) on July 10.
The move of UP reached near the overhead resistance of $ 4.30, where sellers were expected to mounted a strong defense. There is a support of $ 3.81 and then to the 20-day exponential transfer of average ($ 3.37). If the price rebounds from the 20-day EMA, the Bulls will try again to drive the SUI/USDT pair above $ 4.30. If they manage to do that, the pair can advance to $ 5 and eventually to $ 5.37.
This optimistic view will be neglected in the near term if the price drops and breaks down the 20-day EMA. That suggests that the bulls are losing their grip. The pair can then go down to 50-day SMA.
Related: 3 charts of screaming ‘It’s Altcoin Season’ while Bitcoin’s dominance hit 8-week lows
The pair completed a bullish opposite head-and-shoulders pattern to a close-up of $ 3.55 level. Sellers are trying to stop the rally at $ 4.10, but bounce off the 20-em at the 4-hour chart indicates a positive emotion. The pair can rally at $ 4.30, which can act as hard resistance.
Sellers will have to spend a price below the breakout level of $ 3.55 to get the upper hand. The pair can then fall to $ 3.30 and later at $ 3.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
