The current price movement of SUI has captured market attention following a breakout from a symmetrical triangle, confirming a bullish trend setup.
Breakout Confirmation and Volume Support
SUI has successfully broken out of a symmetrical triangle pattern and retested the breakout zone, affirming the breakout. The former resistance is now serving as a strong support. Recent candlesticks are showing increasing volume and growing buying interest, supporting the upward trend.
Ichimoku Indicators Indicate Bullish Momentum
Technical indicators also confirm the prevailing trend, particularly the Ichimoku Cloud. Analysis indicates the price has started to rise above the Ichimoku Cloud, signaling an increase in bullish sentiment. The cloud is now providing dynamic support, reinforcing the ongoing market move.
Target Levels and Risk Management
The projected price target is near the $10 mark, suggesting a potential gain of over 100% from the current price of $3.89. Technical support near the triangle apex provides a clear invalidation level, ensuring risk is kept limited.
SUI appears to be positioned for a sustained rally, provided buying pressure continues and the breakout support holds firm.
