Sui (SUI) has recently broken out of a descending channel, signaling a potential trend shift. The asset is trading at $2.57, showing gains of 4.62% over 24 hours and 8.19% over the past week.
Analysis of Price Action
Michaël van de Poppe noted a significant retest and opportunity at current levels. His analysis indicates the price broke above the upper trendline of a descending channel, suggesting a new upward trend may have started.
Analysts Insights
Trader Edge highlighted that SUI has broken out from a bullish falling wedge pattern, which previously led to significant rallies. Attention to $3 resistance is key, as past breakouts from similar patterns have resulted in market jumps.
Technical Indicators and Key Levels
Technical indicators like MACD and RSI support potential growth. MACD shows crossover, and RSI above 50 indicates rising buying interest. Resistance is between $2.80–$3.00, support at $2.30–$2.40.
Technical indicators and analysts point to potential growth for SUI, with key levels at $3 being crucial for market participants to watch.
