Reducing millions of supply and increased purchasing pressure; The price is ready to jump again?

Study time: 2 Minutes

The digital currency (SUI) has reached an important support range of $ 1.5, and analysts see this level as a key to the next price move.

The token has recently been modified after rising $ 1.5 in early August and is now in the range of $ 1.2 to $ 2.9. Maintaining this support could increase the chance of rising to $ 2.9 and even $ 1.2, but failure may bring more sales pressure.

The charts also show that the price is in a downtrend pattern, a structure that is usually a sign of the possibility of the process. However, the price has not yet cut down the downward trend, and the upward trend approval requires the failure of this resistance.

Network activity also states the decline in supply; More than 1.2 million SUIs have been out of turn by burning and freezing.

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This decline in supply, along with the growth of network accounts, can boost purchasing pressure and make the upward movement more likely.

Analysts believe that if the support is maintained, buyers may re -enter the market and pursue higher price targets.