The price of Sui (SUI) is in a sideways trend and is below the $4.00 resistance level.
On July 14, as Coinidol.com wrote, the cryptocurrency rose to its historic price of $4.00 for the second time. If the SUI price now breaks above the $4.00 resistance level but fails to maintain the bullish momentum above it, SUI will rise to a high of $5.35.
Currently, the $4.00 level has not been broken since May 11. The altcoin was rejected at the last high and fell below the moving average lines of the previous price level. Although SUI is rejected again today, the altcoin is in an uptrend and has risen back above $3.69. The altcoin is preparing for a bullish move by fluctuating below resistance. The current value of SUI stands at $3.80.
The moving average lines are pointing upwards in a sideways trend. On the lower time frame, the price bars are moving below and above the moving average lines. Doji candlesticks have developed, indicating that traders are undecided about the market direction.
SUI’s price is moving sideways on the 4-hour chart. The cryptocurrency is trading in a narrow range, above the $4.70 support and below the $4.100 high. The price bars have remained stationary inside the limited range. This indicates that traders are undecided about the next move.
