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The Fed’s reluctance to raise rates and Donald Trump’s hostilities against key partners like China, Mexico, and Canada are among the most relevant headwinds impacting the value of digital assets at the moment.
The $3.2 level remains the most critical resistance level that SUI needs to overcome to start reversing its downtrend. Momentum indicators have behaved erratically in the past few days in the daily chart as the MACD’s histogram has jumped up and down the zero line multiple times.
Meanwhile, the Relative Strength Index (RSI) has delivered short-lived buy and sell signals at least four times in the past week.
If the market sells off after this second attempt to push SUI to a higher high, the price could collapse once again to the $2.45 level as it did on Tuesday.
SUI Shows Bullish Structure in Hourly Chart
Sui’s hourly chart shows that late buyers could still have a chance to profit if the token resumes its rally in the second half of the American session.
Trading with the trend is typically the best decision and SUI was already on an uptrend before today’s jump.
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