- SUI broke out of the symmetrical triangle and is retesting the breakout zone from above, showing potential for trend continuation.
- Bullish Ichimoku Cloud structure aligns with price breakout, reinforcing the setup and increasing the chances of an upside confirmation.
- If the retest holds, a breakout confirmation could follow, pushing SUI toward a measured target range of $5.50 to $6.00.
SUI/USDT is currently testing a crucial breakout level after moving above a symmetrical triangle pattern and the Ichimoku Cloud.
SUI Pushes Beyond Symmetrical Triangle
The Crypto Express reported that SUI has broken out of a symmetrical triangle on the 5-day timeframe. This structure, formed since late 2023, is defined by a descending upper trendline and an ascending lower boundary. The convergence of these lines indicates sustained consolidation, often leading to volatility expansion.
Recent price shows SUI rising slightly above the upper trendline, suggesting the potential start of a bullish trend. The candle that closed outside the triangle also formed above the Ichimoku Cloud. This move could indicate the beginning of an upward transition, though stronger confirmation is still required.
A retest of the breakout level is now underway. If buyers maintain control, this would affirm the bullish structure. However, failure to hold above the breakout level could push the price back inside the triangle, where further testing of lower supports may follow.
Ichimoku Cloud Confirms Bullish Transition
The Ichimoku Cloud on the current chart adds further technical evidence of growing momentum. The price has emerged from the cloud, which typically suggests a trend shift. This breakout, combined with a possible close above the cloud’s top, could reinforce the pattern’s strength.
Despite this positive setup, volume confirmation remains necessary. A high-volume candle or bullish engulfing pattern would validate sustained momentum.
The structure has held since 2023, with both upper and lower trendlines respected. This extended pattern contributes to the current breakout’s potential relevance.
Price Targets and Risk Levels
Provided that the breakout is maintained, the symmetrical triangle forms the height, which presupposes a potential rise to the level of $5.50 to 6.00.
However, a failed retest could bring SUI back to the lower trendline near $2.70. This area aligns with a key support level and could serve as a fallback in the case of rejection.
SUI trades at $3.80, with a 10.99% gain over the past week, despite a recent 24-hour decline of 5.63%.
