Altcoin SUI Holds Firmly at the Weekly Support Zone, Analysts Mark This the Calm Before the Storm
- Altcoin SUI holds firmly at the weekly support zone.
- Analysts mark this as the calm before the storm.ย
- SUI at $0.6 could be the perfect entry before an explosive upwards move.ย
As the month of August passes its midway point, anticipation over the long-awaited altseason peak phase continues to grow. At the moment, many altcoins are showing strength despite dipping to lower prices. For instance, altcoin SUI holds firmly at the weekly support zone and analysts mark this phase to be the calm before the storm. In particular, they expect SUI price to rise exponentially.
Altcoin SUI Holds Firmly at the Weekly Support Zone
According to CoinMarketCap analytics, the price of SUI is currently trading at the $0.6 price range, showing that the asset is down by only 0.04% over the last 24 hours. However, in terms of 7 days and 30 days the asset is down by just over 2% and 8% during these time periods. The asset will need a major pump to reclaim its previous ATH price range at the $5.35 price area.ย
Ever since this ATH was met several months ago, the price of SUI has been declining at an unprecedented rate facing rejection after rejection, leading its lows to keep getting lower. From the highs, every bounce has been a selling opportunity with $3.00 rejected, $2.10 rejected, $1.40 rejected, and now the $0.85 zone has also failed to hold. The structure is pointing towards the major support at $0.61 as the next destination and the projected path suggests price may sweep below that level before finding genuine buyers.
