Lingrid | SUIUSDT short-term CORRECTION from the RESISTANCE zone
2024-10-17

BYBIT:SUIUSDT  made an impressive surge from the 0.75 level to its current levels. However, with the market having made a fake breakout above the previous resistance zone established in March, there is a likelihood of a pullback. Given that the price has moved up significantly without any notable pullbacks, a correction seems probable. Estimating a pullback in the range of 20% to 30% would be reasonable, especially considering the rapid rise. There is also a possibility that the market may dip below the psychological level of 2.00 before consolidating. This consolidation phase could allow the market to gather momentum and build the necessary support to eventually challenge and potentially establish new all-time highs. I expect short term pullback from the swap zone. My goal is support level at 1.80


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