The SUI cryptocurrency price analysis revealed the potential for a short-term price trend change. Veteran analyst Ali refers to a classic technical pattern suggesting a possible reversal.
Inverse Head and Shoulders Pattern
The inverse head and shoulders pattern is often associated with bullish reversals. The SUI chart displays three main troughs: a left shoulder formed around March 30, a deeper head on March 31, and a higher low as the right shoulder between April 1 and 2. This formation occurs as downward momentum slows and buyers begin to take control. The neckline of the pattern, connecting the interim highs between the troughs, is located around $2.52, serving as the current resistance level for the asset.
SUI Key Resistance and Support Levels
The $2.52 resistance represents the upper boundary of the pattern. A sustained move above this threshold could complete the formation and potentially trigger a move to the upside, with the projected target near $2.84. Support zones are also defined. The area between $2.30 and $2.35 provides near-term support at the base of the right shoulder. A move below this level would weaken the bullish outlook. Further downside support lies between $2.20 and $2.25, corresponding to the low of the head.
SUI Price Short-Term Setup
The current pattern is identified on a 30-minute chart, indicating a short-term setup. While the formation remains valid, confirmation requires a breakout supported by volume. Without that, the risk of a false breakout remains. Traders monitoring SUI price will likely focus on price action around the neckline. A breakout above $2.52, accompanied by volume, could attract more buyers and fuel upward momentum. If the SUI fails to break through, the token could remain range-bound or retest support levels.
The inverse head and shoulders pattern on the SUI chart is gaining attention as it may signal a short-term bullish reversal. The $2.52 level remains a key point to watch in the coming sessions.
