news 
SUI crypto’s big rebound: Will it outpace BTC, BGB, and ENA this week?
In the midst of Bitcoin’s price consolidation, several altcoins are gaining traction. SUI, in particular, has made a remarkable comeback from its recent dip, leaving traders wondering if it can surpass other notable cryptocurrencies like BTC, BGB, and ENA.
While Bitcoin is stuck between $93K and $98K, a crucial range that may determine the trajectory of market dynamics for the near term, altcoins such as SUI have been buoyed by aggressive buying at lower levels. This surge in demand has not only propelled the cryptocurrency’s price but also generated some much-needed positivity in an otherwise uncertain market.
SUI’s rebound from its 20-day EMA is a testament to its resilience and potential for further growth. The RSI, while showing mild bullish momentum, suggests that this resurgence could be sustained if buying pressure continues.
At the moment, the cryptocurrency seems poised to test $4.50 as it has already broken above the 20-day EMA. If this level is sustained, we may see SUI make a move toward $5, with $5.50 serving as the next key resistance.
On the flip side, if the price fails to hold above $4.50, bears could regain control and push SUI downward to the 50-day SMA at $3.50.
It is crucial for traders to keep a close eye on these levels to determine the cryptocurrency’s trajectory in the near term. Will SUI be able to outpace other notable players like BTC, BGB, and ENA? Only time will tell.
In the meantime, investors should exercise caution when considering their next move, as market conditions are notoriously unpredictable and subject to sudden shifts in sentiment.
Samantha LKM
Source: eng.ambcrypto.com
