SUI coin worth has began this week with power, fostering hopes of a SUI crypto restoration.
This follows Bitcoin’s bullish response yesterday on the key assist degree of $92,000. Sui made a ten% transfer from $4.29 to $4.76. Bitcoin’s worth sustained in a single day, although Sui couldn’t and dropped 4.3%.
At the moment, Bitcoin
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Worth
Buying and selling quantity in 24h
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Final 7d worth motion
grew one other 2.5% whereas Sui may solely get again to yesterday’s excessive of $4.70. That’s our preliminary evaluation—Bitcoin is wanting stronger.
#BITCOIN liquidity hunt couldn't shake us out
Revisit worth motion:You have been ready. I laid out the total plan and eventualities for the way to act on worth motion.On the finish of the day, we closed above $92.5k neckline and above vary assist, a significant key degree.
Nevertheless,… pic.twitter.com/ap6bvsCO1m
— ANBESSA (@Anbessa100) January 14, 2025
How come we’re discussing Bitcoin? Effectively, right here’s what I believe—as soon as BTC resumes its uptrend, alts will make new all-time highs. However first, we’d like Bitcoin to search out assist. That’s the reason we regulate it as nicely.
Right here is one other publish on X, altcoins market cap:
#Altcoins
Holding the road – shut the week above the gray field and all-time highs are subsequent. pic.twitter.com/CYVB8UbNbu
— Jelle (@CryptoJelleNL) January 14, 2025
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SUI Coin Worth Evaluation: Is SUI Crypto Heading For a Restoration Transfer?
Each of those X posts are bullish for crypto, however are we at a degree the place we must always elevate our hopes? Let’s have a look at the charts.
(BTCUSDT)
We’ll focus on what occurred to the BTC worth after the inexperienced arrow. Should you haven’t learn the earlier article, which options the inexperienced arrow, you are able to do so right here.
After the inexperienced arrow, we see that the value decreased to present assist. Then, returned and obtained rejected from MA100 (inexperienced). Then, it deviated under the assist at $92,000 – depraved underneath $90,000 and swiftly got here above the assist line.
Now, it examined MA200 (pink), which is in confluence with the final low we broke underneath – MSB – and these ranges type the present resistance at $97,000. Will the purple field be examined? I don’t know, however it’s attainable so long as we keep underneath this resistance.
(SUIUSDT)
Again to SUI coin worth—on the 4H chart, we see one thing like a double high. I used to be contemplating shorting the second at round $5.20 however was too scared to do it. Invalidation could be going above the earlier excessive—a really clear degree. Now I want I had shorted.
On this chart, we see we’re under all MAs. Yesterday, we bounced off of the Yearly Open—a thick purple line within the purple field. The field itself is the Bullish Order Block shaped earlier than the New Yr pump. These are our key ranges to watch.
(SUIUSDT)
Lastly, we have a look at the 12-hour chart with a Fib Retracement ranging from the Trump election pump. The degrees align fairly nicely all through the transfer—that’s essential when drawing Fib ranges. The evaluation right here tells us that MA100 has acted as assist six instances.
We see each Fib degree examined besides 0.786, which may stay untested. It doesn’t make sense for the value to go under MA200.
I believe 0.382 or perhaps a dip to 0.5 is feasible, because it correlates with MA200. That’s the lowest I’d wish to see the SUI coin worth go.
Till then, all the crypto hangs on and waits for Bitcoin to search out assist and proceed upwards – with CPI and a New President arriving in workplace alongside the best way. SUI is without doubt one of the stronger alts and will accumulate in an ascending channel.
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