The SUI token demonstrates promising signs of strength, bouncing off key support levels on the chart. Analysts are paying close attention as an ascending triangle is forming, known for signaling bullish breakouts.
Support at $4.30
SUI is showing signs of strength as it continues to bounce off a key support level for the third time on the weekly chart. The support zone has held up well, and price activity is consolidating below the major resistance level at $4.30.
Formation of an Ascending Triangle
An Ascending Triangle typically forms when the market prints higher lows while facing a consistent resistance ceiling. In SUI’s case, the flat top resistance around $4.30 has been tested multiple times, and each bounce off support suggests growing bullish pressure.
Future of SUI and Predictions
SUI remains inside the triangle formation, with the $4.30 resistance acting as a crucial level to monitor. If a breakout occurs on high volume, it could confirm the bullish setup and ignite the next major leg up.
Current support levels and potential breakouts for the SUI token can serve as important indicators for investors looking for opportunities in the cryptocurrency market.
