After several consecutive days in the red, the SUI -token signs of recovery shows if a competitive price deviation renews the bullish sentiment.
Sui (sui), the native token of the Sui-Laag-1 blockchain, has increased in the last hours and placed around 15% in new profit. The rally marks the end of a month-long losing streak in which the token key support levels break and to new lows.
At the time of the press, Sui acts around $ 2.79, which marks a strong recovery compared to the low point of the week of $ 2.45. The rebound in the native token is not isolated and comes as investor sentiment improves in the wider cryptomarkt in the midst of illuminating geopolitical tensions.
While Bitcoin (BTC) and other large altcoins have led the market stick, Sui stands out as a strong performer and this month he places with double digits that it placed about 17% above the lowest point.
From a technical perspective, the native token comes in a crucial phase. Sui is already in a strong downward trend for most of this month and recently reached a low point of $ 2.29, a prize that has not been seen since April.
Since then, the price has recovered somewhat and now rests at $ 2.79, a price on the edge of the trend lines that can be seen on the graph. If the price continues to rise and exceeds $ 3 marking, there is the chance of a market reputation and increased upward momentum.
After that, the next challenge will be to cross the Target 1 price, which was the last local high that was seen during the current Neerwaartse trend, and the Target 2 prize will be the subsequent challenge.
On the other hand, as a momentum, is the first level to view $ 2.70, where a local low was formed recently. A drop below this area can indicate a strong bearish pressure and send the price to the layer of $ 2.39.
