- A cup-and-handle pattern suggests a potential breakout, with a mid-term price target of $7 if bullish momentum strengthens.
- A successful breakout above $2.38 points toward sustained market recovery although any failed attempt could cause prices to fluctuate between $2.00-$2.20.
- RSI reading at 49.76 together with weak MACD bullishness shows market consolidation unless market-moving catalysts occur.
Currently, SUI is priced at $2.29, experiencing a slight 0.1% decline, while the 24-hour price range fluctuates between $2.26 and $2.38. The candlestick chart highlights a rounded bottom pattern, a strong cup-and-handle formation, with key resistance and support levels marked.SUI Mid-Term Target: $7
Pushpendrakum Prediction:The analyst has highlighted that Sui is currently in a strong buying zone, and a breakout to the upside could be imminent.Data from the chart shows that the curved trendline projects a potential parabolic move upward, reinforcing the mid-term target of $7. A similar breakout in the past led to a sharp price surge, and a similar trajectory could be expected if SUI maintains its bullish structure.
Sui Key Levels To Monitor
The technical indicators show that SUI will initiate a potent price recovery phase after successfully breaking above its resistance level. The price support stands at $2.26 below $2.38 resistance levels which function as support when bearish pressure heightens.
The market indicates SUI will likely speed up its movement to its $7 mid-term target as trading volume rises above the price range of $3.50-$4.00. The market could potentially shift to a period of $2.00-$2.20 consolidation if support levels fail to maintain their position. A rise in trade volume coupled with momentum indicators becomes significant for investors to validate an upward market trend.
SUI Consolidates as Indicators Show Neutral Momentum
Current Sui RSI stands at 49.76 which signals a market equilibrium. The MACD indicator has its MACD line positioned at 14.97M while the signal line resides at 14.48M along with a histogram value of 488.64K demonstrating weak bullish momentum.
Source:TradingView
The current market capitalization of SUI stands at $7,220,273,049 and presents balanced buy and sell values thus indicating market participant equilibrium. The low market volatility together with neutral indicators suggest SUI will probably keep consolidating until a powerful market driver pulls the price in a particular direction.
