During the recent drop in prices, only a few cryptocurrencies managed to resist a massive decline, et suis, the native token of the Blockchain Su, is one of them. The daily graphic of the asset shows that SUP remained above the level of crucial support of $ 3 and the exponential mobile average (EMA).
SUP technical analysis and future level
With the recent retest of this level of support, an expert’s analysis suggests that sui seems to form a double swing price model and that the price has started to climb. However, the daily graph not only signals a bullish scheme, but also shows an upward divergence, which indicates that the assets could soon undergo a massive rally.
Based on recent prices action, if Suis holds its level of support, it could rise by 30% to reach the level of $ 4.15 in the near future.
In addition to this prediction, the upward thesis will only remain valid if the price of SU remains higher at the level of $ 2.97, otherwise it can fail.
SU is currently negotiating nearly $ 3.18 and has increased prices of more than 7.50% in the last 24 hours. However, during the same period, the action of bruises prices led increased participation in merchants and investors, which led to a 15% leap in the volume of trade.
21 million dollars for an exit suis
During this increase in participation, investors and long -term holders significantly accumulated assets, as reported by the chain analysis company Rinsing.
The data from the occasional inputs and outputs revealed that the exchanges experienced a significant value of $ 21 million in Su sur Mu, indicating potential accumulation.
In this recovery in current prices, the feeling of the market remains positive, because investors and analysts see this as a bullish sign which could cause purchase pressure and upward momentum.
Optimistic betting merchants in long positions
In addition to the bullish participation of investors and long -term holders, intraday traders also seem to follow the same trend.
The data reveal that the betting traders on the long side are over $ 3.123, having built a value of $ 7.55 million at this level, because they believe that the price will not fall below.
Conversely, $ 3.26 is another over-commissioning level, where traders bet on short positions have accumulated a value of $ 5.20 million in short positions.
These data on the chain suggest that bulls, including merchants and investors, are currently supporting prices and could help the assets to rise significantly in the coming days.