SUI Market Shows Strength Amid Breakout and Correction

• SUI confirms the breakdown after the retracement of past resistance as support, affirming bullishness as it clings onto essential levels
• The Stochastic RSI shows oversold conditions, and the DMI signals market consolidation, which can indicate a potential explosion.
• A breakout above $4.00 would push SUI toward $5.00 and higher, in line with the overall market movement and growing institutional attention

SUI has been strong in the market, holding the bullish structure despite the fluctuations. The movement of the asset’s price indicates the possibilities of increase as the asset is holding the support levels in readiness for the upward movement.

Breakout and Retest Confirmation

A long-term rising trendline acted as resistance before being broken, initiating a breakout. Price later came back to the trendline and established the same as support, a bullish pattern foretelling more movement upwards.

Trading above the $3.00-$3.50 level maintains the bullish trend. The resistance level is at $4.70, and a break above this level can send the price higher.

Technical Indicators and Market Position

Crypto analyst @thescalpingpro also pointed to the bullish formation of SUI, stating, \”$SUI is holding strong. Double digits is coded.\” Analysis showed a confirmed break and retest, backing the expectation of further movement to the upside.

The Stochastic RSI as a momentum oscillator is showing SUI is in the process of being oversold. Blue is 6.73, and orange is 3.17, which is a reversal. Also, the Directional Movement Index is showing the Average Directional Index at 37.86, which is a strong trend. The +DI at 16.42 is nearing the -DI at 15.91, which shows the pause before the next movement. A cross of the +DI over the -DI would be a new bullish movement.

Price Forecast & Key Levels

SUI’s price corrected from over $5.00 down to approximately $3.38. It is flat after the correction. $3.00-$3.20 is the level of support. If this is strong enough and the price crosses $4.00, more movement upwards toward $5.00 and higher is anticipated.

On the downside, a break below $3.00 might lead to a deeper retracement toward $2.50. Market participants are closely watching Bitcoin and Ethereum, as their movements often influence altcoins like SUI. If broader market conditions remain favorable and institutional interest continues to grow, SUI’s trajectory may align with projections toward $7.00 and beyond.