Analyst Ali Martinez shares his insights on the current state of the SUI cryptocurrency, predicting its rise to $7 based on technical analysis.
Technical Analysis of SUI
The SUI chart shows a large symmetrical triangle pattern that has been forming since early in the year. The lower trendline has been steadily rising from April's lows, while the upper trendline has been drifting down from February's peak. This type of pattern often signals a major move ahead, with the breakout direction determining the trend. Martinez noted that SUI's price broke above the resistance line and retested that breakout level, confirming a bullish trend.
Fibonacci and Key Levels
Martinez’s analysis uses Fibonacci levels to map out the path to $7. Key levels include **$4.23** as the first major resistance, **$5.25** as a key target, and the range of **$6.90–$7.00** as the main bullish objective. In a stronger scenario, the price could reach **$7.90**.
Path to $7
To maintain a positive trend, SUI needs to hold above **$3.80** in the short term. A breakout above **$4.23** with strong volume would be the logical next step. This step-by-step climb includes possible pullbacks or sideways movement around **$5.25**. If bullish sentiment remains, further movement towards **$7** becomes likely, but **$3.57** is a critical level that warrants caution.
The situation in the SUI market shows a possibility of reaching $7, but maintaining key support levels is essential. Martinez's analysis presents promising prospects, although investor vigilance is required.
