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The announcement of Sui’s partnership with Alibaba, one of the leading e-commerce platforms, recently made a big splash in the markets. This important development led to a significant increase in Sui’s price. The partnership has the potential to make a significant contribution to Sui‘s business model and overall market position.
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However, it is important to remember that the market effects of such news are usually short-term and that the company’s fundamental performance is more decisive in the long run. Financially, it is important to closely track how Sui will assess the advantages it gains from this partnership and how its long-term strategies will be shaped. Investors should focus on the company’s overall financial health when evaluating this development and adopt a patient approach to see the long-term effects of the announcement.
Sui Analysis
Introduction: Sui successfully completed the inverse head and shoulders (TOBO) pattern and experienced an upward movement towards the right shoulder target of $1.45 after this pattern. This could indicate a positive signal of a pattern that is often used in technical analysis.
Initial Reaction: The price is currently experiencing a retracement after reaching the right shoulder target of $1.45. If it clearly loses the $1.38 support, we predict that this retracement could become even more severe.
Strong Support and Tough Upward Movement: After the retracement, we observe that the price could be pulled back to the $1.31 TOBO support and complete the retest movement from here. If this retest is successfully completed, we predict that Sui could then maintain a strong structure up to the $1.73 levels with an upward movement towards the Inverse Head target.
Important Evaluation and Points to Monitor: If Bitcoin cannot surpass the $42,000 level, the possibility of entering a period where the correction on Sui could become severe should be taken into account. In this case, there is a possibility of Sui’s $1.31 support being broken. If the support at the $1.17 level is also broken, it is thought that the formation will be broken and the price could experience a decline to the $1 level.