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🚀 SUI Price Analysis
The Swiss currency shows a strong upward momentum, currently trading at around 3.75 USD ( +5.46% ) daily. After a period of consolidation and a long-term downward trend earlier this year, the currency price has broken through key resistance levels and is moving above the upper Bollinger band, indicating strong buying momentum.
💹 Technical Overview
▪️The MACD indicator is accelerating upwards, confirming the dominance of the bullish trend.
▪️Relative Strength Index (RSI) at 79, indicating overbought conditions, which may lead to a short-term pullback or sideways movement.
▪️The average price (3.62) is now acting as immediate support.
🤔 Possible scenarios
Continued upward trend: If the momentum continues, the next targets will be in the range of $4.00-$4.20. A breakout above the $4.00 level could pave the way towards $5.00.
▪️Correction: Due to overbought conditions, a pullback towards $3.40 - $3.20 may occur before a new rise.
▪️Unification: The price may range between $3.40 and $3.80, leading to building strength for the next directional movement.
The trend remains bullish, but due to the high indicators, traders should be cautious of potential short-term corrections.