SUI coin price has started this week with strength, fostering hopes of a SUI crypto recovery.
This follows Bitcoin’s bullish reaction yesterday at the key support level of $92,000. Sui made a 10% move from $4.29 to $4.76. Bitcoin’s price sustained overnight, though Sui couldn’t and dropped 4.3%.
Today, Bitcoin
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grew another 2.5% while Sui could only get back to yesterday’s high of $4.70. That’s our initial analysis—Bitcoin is looking stronger.
#BITCOIN liquidity hunt couldn't shake us out
Revisit price action:
You were prepared. I laid out the full plan and scenarios for how to act on price action.
At the end of the day, we closed above $92.5k neckline and above range support, a major key level.However,… pic.twitter.com/ap6bvsCO1m
— ANBESSA (@Anbessa100) January 14, 2025
How come we are discussing Bitcoin? Well, here’s what I think—once BTC resumes its uptrend, alts will make new all-time highs. But first, we need Bitcoin to find support. That is why we keep an eye on it as well.
Here is another post on X, looking at altcoins market cap:
Holding the line – close the week above the grey box and all-time highs are next. pic.twitter.com/CYVB8UbNbu
— Jelle (@CryptoJelleNL) January 14, 2025
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SUI Coin Price Analysis: Is SUI Crypto Heading For a Recovery Move?
Both of these X posts are bullish for crypto, but are we at a point where we should raise our hopes? Let’s look at the charts.
(BTCUSDT)
We’ll discuss what happened to the BTC price after the green arrow. If you haven’t read the previous article, which features the green arrow, you can do so here.
After the green arrow, we see that the price decreased to current support. Then, returned and got rejected from MA100 (green). Then, it deviated below the support at $92,000 – wicked under $90,000 and swiftly came above the support line.
Now, it tested MA200 (red), which is in confluence with the last low we broke under – MSB – and these levels form the current resistance at $97,000. Will the purple box be tested? I don’t know, but it is possible as long as we stay under this resistance.
(SUIUSDT)
Back to SUI coin price—on the 4H chart, we see something like a double top. I was considering shorting the second one at around $5.20 but was too scared to do it. Invalidation would be going above the previous high—a very clear level. Now I wish I had shorted.
On this chart, we see we’re below all MAs. Yesterday, we bounced off of the Yearly Open—a thick purple line in the purple box. The box itself is the Bullish Order Block formed before the New Year pump. These are our key levels to monitor.
(SUIUSDT)
Lastly, we look at the 12-hour chart with a Fib Retracement starting from the Trump election pump. The levels align quite well throughout the move—that’s important when drawing Fib levels. The analysis here tells us that MA100 has acted as support six times.
We see every Fib level tested except 0.786, which could remain untested. It doesn’t make sense for the price to go below MA200.
I think 0.382 or even a dip to 0.5 is possible, as it correlates with MA200. That is the lowest I’d want to see the SUI coin price go.
Until then, all of the crypto hangs on and waits for Bitcoin to find support and continue upwards – with CPI and a New President arriving in office along the way. SUI is one of the stronger alts and could accumulate in an ascending channel.
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The post Is SUI Crypto Heading For Recovery? SUI Coin Price Giving Signs of Strength appeared first on 99Bitcoins.
