Crypto
SUI Price Poised for Reversal as Bullish Divergence Builds
The Sui (SUI) price has been struggling to break above its EMAs on the daily chart, but there's a more promising signal emerging on the SUI/BTC chart. Analyst CryptoMichNL identified a falling wedge pattern with a bullish RSI divergence, which has historically preceded reversals.
This setup recently showed up at Bitcoin's own low and across several altcoin charts, suggesting that SUI could be due for a reversal soon.
The analyst expects liquidity to rotate into altcoins once Bitcoin consolidates, potentially triggering a move in SUI's price. If this scenario plays out, the bullish target is $0.84.