The cryptocurrency SUI is showing signs of a potential breakout after rebounding from a critical support zone, according to analyst Michaël van de Poppe.
Signals of Potential Breakout
Analyst Michaël van de Poppe noted that SUI showed a strong bounce in price and there is a possibility of a bullish reversal if it surpasses the $3 resistance level.
Chart Points to a Trend Shift
The accompanying chart indicates that SUI has reclaimed a significant demand zone after an extended downtrend. Van de Poppe emphasizes that a breakthrough above $3 could invalidate many bearish setups and trigger a rapid rally.
Traders' Focus on the $3 Level
With altcoin markets showing early signs of strength, SUI's structure is attracting the attention of traders. A successful breakout through the $3 barrier could mark a significant trend reversal for the asset.
Market participants are now closely monitoring whether SUI can push through the $3 barrier and trigger a short squeeze, potentially leading to higher prices in the coming days.
