After having become a rushing rose of almost 70% in recent weeks, Suis has faced a quick correction, losing 10% of its value in the last three days. Despite a strong bullish impulse pushing the Altcoin under the spotlight, the sudden withdrawal did not shake the investors.
The wider prospects for SU remain intact, with metrics and chain market indicators indicating that this decline can be nothing more than recharge time.
SUP investors can rejoice
The 50 -day exponential mobile average is about to exceed EMA of 200 days. This quasi -crostement suggests that SUD could soon attend a golden cross – a strong technical signal indicating a change in the long -term momentum.
If the crossroads would end, it would mark the end of the Cross of the death of Suis which started seven weeks ago.
Such a change would probably encourage renewed purchase pressure. A golden cross often precedes significant rallies, and with the price of Sui having won almost 70% before the recent drop, the bullish feeling appears far from discoloration.
The Relative force index of Su (RSI) recently violated the Surachat threshold, triggering a recharge time while the merchants have made profits. This RSI drop corresponded to the price drop by 10%, indicating that the asset was temporarily overheated and had to stabilize.
Despite retirement, the RSI remains in the bullish territory, hovering just below the excessive area. This means that even if the rally has stopped, the overall trend remains intact and other gains can be on the horizon if the purchase volume increases again.
Suis Price aims to bounce back
At the time of the press, SU is negotiated at $ 3.16, after slipping below a level of key support in the last 24 hours. The decline of 10.77% comes from the failure of the Altcoin to violate the level of resistance of $ 3.59, aggravated by a general recharge time of the market. However, the correction is considered by many traders as temporary.
Larger indicators continue to reflect upward conditions. The close golden cross, the resilient RSI and the strong ascending momentum indicate that SUP could soon recover $ 3.16 as a support. If Momentum returns, the asset could retain $ 3.59 and potentially exceed it, resume its previous recovery path.
However, delays in recovery could change the script. If SUP fails to recover $ 3.16 soon, the Altcoin risks slide further. A violation failure of $ 3.39 or a secure support at $ 3.18 could send the price switched to $ 2.77, potentially invalidating the Haussier thesis and pointing out a trend reversal.
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