- SUI forms a Cup and Handle on the 1D chart, eyeing a potential breakout toward $10.
- Price consolidates between $3.55–$3.85 with RSI at 52.91, signaling neutral momentum.
- On-chain activity grows as SUI surpasses Solana in stablecoin transfers, supporting bullish sentiment.
SUI is gaining attention as the 1-day chart shows a bullish continuation pattern forming. Market observers note the development of a classic Cup and Handle structure, often seen ahead of major upward moves. A breakout could push SUI to a full target of $10, based on current technical data.
Cup and Handle Pattern Shows Strong Formation
Based on insights shared by Crypto Bullet, the SUI/USDT 1-day chart reveals a well-formed Cup and Handle setup. The rounded bottom began forming months ago, and the recent consolidation suggests the handle is nearing completion.
This pattern is typically considered reliable for forecasting price breakouts, especially when volume increases near resistance. The resistance level from the top of the cup appears to sit around the $4.20 mark. A confirmed close above this line may initiate a measured move based on the depth of the cup.
Based on chart structure, the projected target remains near $10, though further validation is needed through price action and trading volume. Price is currently trading around $3.75 after bouncing off the 50-day moving average near $3.40.
Key Levels and Market Indicators Suggest Accumulation Phase
The current range between $3.55 and $3.85 suggests consolidation, with volume declining by 21.1% over the past 24 hours. This aligns with typical behavior ahead of breakout attempts. The RSI stands at 52.91, reflecting a neutral condition and hinting that the overbought phase has cooled off.
Meanwhile, the MACD shows mild bearish divergence in the short term, while the overall trend remains positive. According to an observation by Momin, this phase presents a good opportunity for accumulation.
He pointed to SUI’s rising on-chain activity, including surpassing Solana in stablecoin transfers, as a strong indicator of network growth. Should SUI break above the $4.25 resistance zone, the next leg upward may begin, backed by both technical and fundamental signals.
