Key Price Indicators for Sui (SUI)
- •SUI could rise to $8–10 if it holds above the April low.
- •Critical support zone lies between $0.694 and $1.406.
- •An alternative scenario suggests a lower support at $0.55.
Technical Analysis of Sui (SUI)
The cryptocurrency market is buzzing with speculation as analysts turn their attention to Sui (SUI), a promising blockchain project. According to a recent chart analysis shared by More Crypto Online, SUI is currently trading within a sideways range on the daily chart. The analysis suggests that as long as the price holds above the April low, the move from that point could be interpreted as a five-wave advance followed by a three-wave correction. This pattern, dubbed the “white scenario,” hints at a potential 1-2 setup that could propel SUI toward the $8–10 range in the coming months.
Support Levels and Market Outlook
The chart highlights key support levels, with a critical zone between $0.694 and $1.406, where a 61.80% to 88.70% Fibonacci retracement resides. This area could act as a springboard for an upward move if buying pressure increases. Additionally, an alternative scenario points to a lower support at $0.55 on Binance, suggesting a cautious approach if bearish momentum takes over. The analysis also nods to a triangle pattern tracked by @XForceGlobal, adding another layer of technical intrigue to SUI’s price action. For investors, this presents both opportunity and risk.
Investment Considerations for SUI
The $8–10 target is ambitious but aligns with the coin’s historical volatility and growing ecosystem. However, the market’s current sideways movement calls for patience, with a break above recent highs needed to confirm bullish momentum. SUI’s price action will be worth watching closely, especially around the identified support zones. Stay tuned as the crypto community debates whether SUI can capitalize on this technical setup to deliver significant gains.