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The most relevant technical signal at the moment is a bullish crossover between the 21-day and 200-day EMAs.
The last time this happened in the daily chart, the price of SUI skyrocketed from $1.17 to its current all-time high of $5.35 for a 353% gain. Hence, this is a major buy signal that even long-term investors can’t ignore.
If SUI rises to its all-time high, this means an upside potential of 44% ahead. However, if history repeats, this token could offer much higher gains if this bullish impulse is as strong as the one that happened last year.
Market sentiment has been improving lately despite some lingering macroeconomic headwinds. Investors seem to believe that the Federal Reserve will be forced to lower rates to cushion the impact that President Trump’s hostile trade policy will have on the U.S. economy.
Yesterday, the United States GDP shrunk by 0.3% on a quarter-on-quarter basis. Although the full impact of higher tariffs was still not visible during this period, the market interpreted it as a sign of weakness.
Lower interest rates are supportive of higher crypto prices and this will benefit altcoins like Sui. Hence, although the macro backdrop could look like a threat on the surface, the latest developments have actually opened the door for some supportive monetary policy measures that could result in higher prices down the road.
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