Lingrid | SUIUSDT possible Sell-Off at the Dawn of 2025 for BYBIT:SUIUSDT by Lingrid

Lingrid | SUIUSDT possible Sell-Off at the Dawn of 2025

is currently consolidating after reaching the psychological level at 5.00. It’s been moving back and forth, forming lower highs while bouncing off the trendline. The last two weeks of December and the first two weeks of January were characterized by sideways movement last year, and it appears we may be experiencing a similar situation now. It’s important to note that there was a strong bullish impulse leg before, but the price failed to continue moving higher, indicating a lack of bullish momentum to sustain that upward movement. This suggests that we might see some bearish action in the near term, potentially setting the stage for a stronger bullish move later on. I expect the market to retest at least channel border. My goal is support zone around 3.61

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Lingrid

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