SUI Eyes $3.00 Breakout as Bullish Trend Gains Strength
- SUI is showing strong bullish momentum, supported by a consistent pattern of higher lows and respected trendlines
- Key support zones continue to attract buyers, reinforcing investor confidence and limiting downside pressure
- A confirmed breakout above the current resistance level could signal the start of a significant upward move
SUI is now on the move, as its movement suggests a bullish trend and marks the crucial entry zones. The token is moving up from its initial key support and experiencing a surge in its price after several weeks of market volatility triggered by macro factors. This setup may signal the beginning of asignificant price breakout in the coming days ahead.
As of the time of writing, Sui is trading at $2.23, its 24-hour trading volume is $774.88, and its marketcap is at $7.28B. The SUI price on the 24-hour time frame is up by 6.45%, but on the higher time frames, its price is slightly down. Its price over the last week is down 1.95%, and over the last month its price is down 1.37%.
Source: CoinMarketcap
SUI Trading Setup Hints at Near-Term Upside
A prominent crypto analyst pointed out that SUI is currently exhibiting a strong technical posture, maintaining a clear pattern of higher lows while respecting key trendlines and horizontal support zones. The price continues to trade to reach the levels at $2.080 and $2.025, which have consistently acted as reliable floors throughout recent market fluctuations.
Such levels have played well in the role of a firmbase, and they are reinforcing bullish sentiment among the traders as well as investors. The continued support of these levels indicates that buyers are entering atthese price levels, providing for deeper shorts to not be made, and that indicates an increasing level of confidence in the assets near-term trajectory.
For a bullish breakout, the asset needs to closea daily candle above the resistance level at $2.80, which has actedas a ceiling for upward momentum over the last few sessions. A confirmed break above this zone would almost certainly attract copious buyingthrough momentum trading and renewed interest from those on the sidelines.
Source: X
But if this resistance levelgets broken with sufficient volume and technical strength, analysts are estimating a move toward the $3.00 area. This move would notonly be a notable upside swing for SUI but also serve to confirm a larger trend reversal pattern
Related Reading: XRP Eyes $2.35 Breakout, but $1.80 Breakdown Threatens Bearish Shift
Read more: https://www.tronweekly.com/sui-eyes-3-00-breakout-as-bullish-trend-gains-strength/
Text source: TronWeekly
