After a considerable surge for relatively new layer 1 networks $SUI and $APT, both have been cooling off over the last two or three days. With both coming down to support, could the next bounce be about to take place?
Short term price momentum about to lift the $SUI price
Source: TradingView
The short term time frame chart for $SUI shows that the price (SUI/USD) has practically come down to the ascending trend line, and has already dipped below the 0.618 Fibonacci for this short term move. If the trend line doesn’t hold, the 0.786 Fibonacci is below at $1.72.
Looking at the bottom of the chart, the Stochastic RSI on the 4-hour is showing the indicators right at the bottom. A cross-up, signalling renewed price momentum may not be far away.
Weekly time frame shows some concern for $SUI bulls
Source: TradingView
The weekly chart for $SUI is showing some concern for bulls. The longer term uptrend does look as though it is over. A long candle wick to the upside, which did not
We współpracy z: https://cryptodaily.co.uk/2024/10/sui-sui-and-aptos-apt-ready-for-a-bounce
