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The Sui price dropped 5% in the last 24 hours to trade at $3.29 as of 6:14 a.m. EST as investors decrease their exposure to the altcoin.
Despite the recent drop, the SUI price is still more than 4% in the green on the longer-term weekly time frame.
Sui Price Escapes A Bearish Channel, Tries To Overcome A Strong Resistance
Daily chart for SUI/USD (Source: GeckoTerminal)
The Sui price is attempting to break above the resistance level at $3.2944 after breaking out of a medium-term descending price channel, data from GeckoTerminal shows. If the altcoin manages to break above this technical barrier within the next 24 hours, it could continue to rise to as high as $4.2047 if the bullish pressure persists.
However, a rejection from the $3.2944 mark could invalidate the bullish thesis. This might lead to a more bearish scenario playing out wherein the Sui price pulls back to the nearest support level at $2.9084.
Technicals Suggest The Sui Price Could Start To Climb
From a technical point of view, there are signs that suggest the Sui price might climb in the next 24 hours. More specifically, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing early bullish signs.
The MACD line is about to break above the MACD Signal line on the daily chart. The prior crossing to above the latter could indicate that SUI has entered a confirmed bullish trend. Traders might then react positively to this technical development and start to open long positions for the crypto, introducing buy pressure that could result in a rally.
Buyers have also grown stronger in the last couple of days, as evident by the RSI that rose from deep oversold territory below 30 to the high 40s during this period. The current reading below 50 still hints at a slight bearish undertone, but the increasing momentum signaled by the MACD suggests there could soon be a bullish shift in power on SUI’s charts.
As the Sui price tries to challenge resistance, investors are FOMO buying the presale for BTC Bull Token (BTCBULL), which will end in less than 18 days. According to 99Bitcoins, a prominent YouTube channel with over 723k subscribers, BTCBULL could soar 10X after its launch in less than 3 weeks.
A Meme Coin That Offers Investors Free Bitcoin
BTC Bull Token is a Bitcoin-themed token that is built on the conviction that the largest crypto by market cap will soar to $1 million per coin and beyond. As such, the project will celebrate certain Bitcoin price milestones by distributing free BTC via airdrops to its investors and executing a series of BTCBULL token burns.
The Bitcoin airdrops will happen with every new $50K milestone BTC achieves, starting at $150K. This means that by simply holding BTCBULL, investors get to profit off of BTC’s gains without having to invest in the crypto directly and take on more risk.
The BTCBULL token burns will also happen with every new $50K milestone Bitcoin achieves, but will start at $125K. By reducing the meme coin’s supply, the token grows more scarce. This could lead to amplified upside pressure on BTCBULL’s price, especially as more and more investors rush to get in on the project’s Bitcoin airdrops.
That strong upside pressure could lead to the 10X rally predicted by 99Bitcoins and other experts.
Time Running Out For Investors To Participate In BTCBULL’s Blockbuster Presale
BTC Bull Token has raised more than $7.1 million in its ongoing presale so far, signaling strong investor confidence in the project’s future. With the chance to earn free Bitcoin via airdrops, the bullish predictions by leading experts, and the project’s meme coin appeal, it’s easy to see why an investor frenzy has erupted around the project at this early stage.
With less than 3 weeks left until the project’s much-anticipated launch, time is running out for investors to get in at this ground level and position themselves for the potential 10X surge.
Interested investors can buy BTCBULL via the easy-to-use widget embedded on the project’s website. Selling for $0.00256, BTCBULL can be purchased with both crypto and bank card.
Once purchased, the tokens can also be locked up in the project’s presale staking pool that offers a 57% APY. This means investors won’t have to wait until after the launch to start seeing their portfolio grow.
Check out BTCBULL on its official website.
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