SUI Breaks Key Levels with SOL-Like Growth Potential Targeting New Highs, Says Analyst

• SUI’s breakout past $3.50 resistance mirrors SOL’s early rally, signaling potential for major price expansion if trends hold.
• RSI near 69.62 hints at short-term consolidation, but MACD and volume support bullish continuation above $3.5075.
• Strong support at $2.85 and $2.12 could sustain SUI’s trend during pullbacks, mirroring SOL’s historic consolidation phases.

Analyst Marty recently shared insights comparing the price movements of SUI and SOL, revealing a potential for major growth in SUI’s market trend. He focused on the correlation between SUI’s recent breakout and the price movement seen in SOL during its early cycle. With SUI’s price action reflecting notable bullish behavior, focus is on critical resistance and support levels as well as key indicators that shape market sentiment.

Price Trends and Key Levels

SUI’s recent price movement had an initial bearish trend that started in early 2024. By April, around the period of Bitcoin’s halving event, SUI’s price began to stabilize, trading within a tight range from $1.10 to $1.50. 

On October 7, 2024, SUI broke past significant resistance, starting a robust upward movement marked by increased buying interest. Currently, the asset faces key resistance around $3.50, where the price has paused, suggesting a potential retest or consolidation phase.

With strong support levels identified at $1.1093 and $2.1206, the price could find footing if a pullback occurs. Resistance at $3.5075 remains critical; a break above could drive SUI towards higher targets. Increased trading volume during the October rally reflects active interest, but recent pullbacks may indicate profit-taking as momentum consolidates.

Comparing SUI’s Trajectory with SOL’s Historical Performance

Historical data from SOL’s 2020-2021 market phase offers a parallel trend to SUI’s current trajectory. SOL’s pattern started with consolidation before a sharp breakout, which eventually saw it rise from around $1.50 to over $50 within a few months. 

This resemblance suggests that SUI might follow a similar path if broader market conditions stay favorable. As seen with SOL, a sustained rally could depend on volume and market sentiment remaining strong, potentially signaling an extended upward trend.

Volume, RSI, and MACD

SUI’s RSI is at 69.62, approaching the overbought zone, while the MACD reflects strong momentum with a positive histogram. These indicators reveal bullish strength, though RSI near overbought levels could trigger a short-term correction.

With SUI’s volume steady at 52.142 million, the potential for a further rally exists if demand remains high. However, a decrease in buying interest could lead to a retracement, possibly testing the $2.85 support before resuming its upward path.

Overall, the technical indicators and comparative analysis underline the strength of SUI’s current trend. While risks remain, notably at resistance levels, SUI’s trajectory aligns with SOL’s explosive rally pattern.