Sui (SUI) rallied 15% to $4.23 on Saturday, extending its robust upward momentum and outperforming most main cryptocurrencies. In keeping with CoinDesk information, SUI has climbed 13.1% previously week, 28.7% over 14 days, and 62.3% within the final month, signaling rising bullish sentiment amongst merchants.
Crypto analyst “Marcus Corvinus” described the present setup as a “breakout zone loading,” noting that SUI is testing a key trendline resistance that has capped earlier rallies. He highlighted an AB=CD sample, a symmetrical value formation usually signaling one other leg larger. Corvinus projected potential value targets at $5.64, $6.70, and even $8.00 if momentum accelerates.
One other dealer, “CryptoBull_360,” emphasised an important resistance stage that SUI has struggled to surpass. He steered {that a} confirmed breakout above this zone might set off a rally towards the $7–$10 vary.
Technical indicators assist the bullish outlook. SUI surged from $3.67 to $4.18 between July 25 and 26, with buying and selling quantity practically doubling its 24-hour common to twenty-eight.8 million. The token broke by psychological resistance at $4.00 after 16 hours of consolidation, establishing short-term assist at $3.93, $3.98, and $4.02. Further resistance ranges at $4.10, $4.12, and $4.15 had been cleared earlier than a short consolidation close to $4.17.
Market momentum stays robust as institutional curiosity grows, with analysts intently waiting for a breakout candle that would verify SUI’s subsequent main transfer. A decisive push above present resistance might place SUI for its highest ranges since earlier this 12 months, doubtlessly making it one of many top-performing altcoins available in the market.
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