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Will SUI Price Rally Fade? New All-Time High May Be on the Horizon
Despite recent gains, SUI's chances of reaching a new all-time high (ATH) appear slim as investor sentiment cools and technical indicators suggest a potential downturn.
While SUI’s price has been trending upwards, a volatility squeeze looms, typically signaling an imminent sharp price movement. However, with trading volume declining, it's uncertain if SUI has the support for a rally, and the squeeze may lead to a price drop instead.
Additionally, the Moving Average Convergence Divergence (MACD) indicates early signs of a bearish crossover, suggesting a possible trend reversal—the first in nearly a month—hinting that the upcoming squeeze may favor a downward move.
Currently trading at $1.97, SUI risks falling below the crucial $1.70 support level. If breached, the price could decline to $1.45 or even $1.16 if selling accelerates. While a broader market rally could push SUI to $2.18 and negate the bearish outlook, a new ATH seems unlikely in the near term.
#WeAreAllSatoshi #HBODocumentarySatoshiRevealed
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