news 
SUI: Here’s how THIS pattern could push the coin past $4
Intraday traders have built a whopping $25.5 million worth of long positions at the $3.11 level, as per recent data. Despite the impressive price increase of over 6.50% in the past 24 hours and SUI’s bullish price action, investors and long-term holders are dumping an astonishing $6 million worth of SUI tokens onto exchanges within the last 48 hours.
Despite this bearish sentiment, AMBCrypto’s analysis suggests that SUI is forming a powerful bullish double-bottom pattern on its daily chart. This has sparked significant enthusiasm among market participants, with many now pinning their hopes on the cryptocurrency to potentially reach $4.05 if it can hold above the crucial support level of $3.
The development, which could propel SUI’s value by a staggering 24%, has been made possible by the asset’s ability to remain stable throughout the recent market decline. Furthermore, this is also accompanied by a bullish divergence on its daily time frame, which often serves as a strong buy signal in the cryptocurrency space.
Historically, data suggests that if SUI can maintain support above $3, it could see a significant upside momentum, potentially pushing it past $4 and exceeding any possible short-term resistance.
Source: ambcrypto.com
