Ali Charts made the right call on SUI on October 7 when he predicted the top, but now, the TD Sequential indicator shows that $SUI is in the buying range with the bottom being in.
Over the past 24 hours, the price of SUI increased by 7.58 percent, and its price is at $2.16, with a market cap of token amounting to 7.95 billion. This increase follows several days consolidating around its key level of support at $1.98, where resistance is developing at its levels around $3.
The recent indication may signal a reversal of direction of the asset that has experienced negative pressure over several weeks.
SUI’s Technical Setup Points Toward a Potential Reversal
Ali Charts indicates that the TD Sequential buy signal is usually shown at the tail end of a downtrend, meaning that exhaustion in selling orders is occurring.
This time, the RSI is 39, indicating, it is in a bit oversold territory. The RSI is, however, reaching higher highs while the price continues to make lower lows, which analysts refer to as a bullish divergence.
In the past, U-turns in various altcoins have followed such deviations, providing hope to investors seeking to enter the markets. In the last 5 days, the price of $SUI has increased by 18%, which is consolidating the rising attention to the technical perspective of the token.
Whether the asset can continue to show such an upsurge and approach the important resistance of around $3 is now being closely monitored by market watchers that may now determine its next action in November.
What the Buy Signal Means for Traders
The recovery by $SUI is enhancing market moods among the holders who held on through the poor performance of the company. A fresh buy signal and positive bullish RSI divergence, coupled with an increase in volume, all point to the possibility of accumulation.
Analysts feel that if $SUI can maintain its position above the support level of $1.98, it may be capable of establishing a foundation for an even bigger upward trend.
Meanwhile, traders are closely observing the confirmation of a higher time frame to determine if this recovery has the potential to transform into a sustained upward trend.
To this point, the TD Sequential indicator turning green has generated hope in the community, and if history repeats itself, this may just be the start of an amplified $SUI cycle.
