SUI → The coin is coming out of an uptrend. Capitulation?
2025-01-21
Category: None

BINANCE:SUIUSDT  is breaking the bullish structure and testing a trigger that could trigger a strong fall. Yesterday's speech by President Trump Disappointed the cryptocurrency community. The main question is whether a correction is possible?

  

A correction is possible and there are several reasons for that: bitcoin is making a false breakout and generally hinting at a possible price correction after Trump's post-inauguration speech yesterday, where not a word was said about cryptocurrency. Some felt cheated. But, in this context, actions are important, if Trump moves to fulfill his promises, we may have a bullish driver.
At the moment, technically, the price is leaving the uptrend and testing the 4.250 trigger. It is a strong enough level, a break of which could make the bulls panic, which could lead to capitulation and price decline.

 Resistance levels: 4.489, 4.84, 5.12
Support levels: 4.25, 4.00 

A retest of the resistance or the previously broken channel boundary is possible, but a break below 4.25 may trigger a fall. A pre-breakdown consolidation is forming around this level. Watch the coin!

Regards R. Linda!