Sui: Mixed Signals With A Hard Chart (Bullish Later)I don't like it when there is too much empty space below the active candles, you what I mean? Below support here on the chart, there is just too much room for prices to move lower. But, when we are looking at a strong project things can be different but I still don't like it.
SUIUSDT. The level that worked as resistance in October 2024 is now working as support, March 2025. This is a good signal.
The action is still weak and there can be lower prices but, I bet there is some bullishness coming from the RSI and this indicator is what we will consider next.
The RSI bottomed 7-Feb. while SUIUSDT hit its lowest price 4-March. So we have a small bullish divergence, an early bullish signal.
The down-wave first bounced perfectly off 0.618 Fib. retracement, on a wick. Now there was a wick below this level but two close above. This is another positive signal but still early and still weak. So it is mixed.
It is possible that SUIUSDT can start to reverse, but the fact is that it is moving lower and there is now volume, yet, to support a bullish wave.
It will recover soon enough near support. It will recover very soon... That's for sure.
Allow for some swings but it won't be too long. The Cryptocurrency market as a whole will grow.
I am betting up.
Namaste.
