The cryptocurrency SUI is showing active growth and forming an ascending triangle in the charts, signaling a potential breakout.
SUI Price Gains Strength
As of the writing time, SUI is priced around $3.56, showing a 2.47% increase in the last 24 hours and over 9% in the past week. The observed ascending triangle with resistance at $4.32 and rising support indicates a possible upward movement.
Key Support Levels
Trading volume is a critical factor for successful breakouts. Historically, spikes in volume occur before the movement, suggesting SUI may confirm its bullish position. The market cap of SUI has risen from $11B in late August to nearly $13B by mid-September, indicating growing investor confidence.
Bullish Prospects
If SUI breaks above $4.32 with strong volume, the next targets could be $5.48, $6.20, and $7.39. These levels are based on Fibonacci extensions. Recent Sui RL events have also showcased new products that may support further price growth.
Thus, with clear signs of growth and backing from new products and technologies, SUI has the potential for further price increases. Attention to volume and support levels will be key in the coming weeks.
