SU has shown signs of recovery, and the price of the crypto token is negotiated at $ 2.65, which is just below the level of crucial resistance of $ 2.77. This resistance is the last obstacle before Altcoin can reach the bar of $ 3.00.
Supported by the improvement of market conditions and the feeling of traders, SUP has grown recently.
Supporters are optimistic
The open interest of SUP has jumped $ 273 million in last week, increasing by 50%. The current open interest is now 825 million dollars, reporting great confidence. This increase in open interest indicates that more traders actively participate in the market, and many are optimistic about the future prospects of Altcoin.
The positive financing rate also strengthens this feeling, which suggests that long contracts dominate the market. With a majority of merchants betting on the ascending movement, the feeling of the market remains optimistic for suis.
Despite the recent training of a cross of death nine days ago, the Macro for SU remains strong. A cross of death, where the 50 -day EMA crosses the 200 -day EMA, is generally a lower signal, often indicating a potential drop in prices.
However, given the improvement of market conditions and the strong support of investors, the expected lowering decline may not materialize as strongly as it is traditionally. The action of the prices of sui suggests that the cross of death can fade quickly, because it does not align itself with the current market environment.
Suis Price is in an increase
SU is currently negotiated at $ 2.65, just below the level of key resistance of $ 2.77. The violation of this barrier could trigger a rally around $ 3.00. If the Altcoin successfully exceeds $ 2.77, it will probably continue its way around $ 3.00, marking a strong recovery and a potential for subsequent growth.
Given the growing confidence of the market and the positive open interest, Suit could aim to inflict the next critical resistance at $ 3.18. The achievement of this would help to recover recent losses and potentially send suis to new heights. A breakthrough $ 3.18 would indicate that Altcoin is ready for a major gathering.
However, if Suis does not manage to maintain its momentum upwards and folds up in support of $ 2.47, it could be vulnerable to additional declins. A drop below $ 2.47 would likely reinforce the downstream implications of the death cross. This could potentially push the price to $ 2.22 or less, delaying the recovery.
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