$SUI
🚨 SUI Price Prediction and Market Trend 🚨
Crypton analyst Profit Mind pointed out that SUI crypto recently broke the upper limit of its falling wedge trading pattern observed on daily data. Falling wedges usually operate as bullish patterns. They reveal a potential rally when traders push prices above the upper trend.
As SUI price broke above the resistance at $2.45, the analyst was eyeing the next significant hurdle: the Ichimoku Cloud. Breaking through the cloud resistance is essential for sustaining the bullish market direction.
Surpassing the Ichimoku Cloud will enable SUI to potentially reach the $5.50 area within the forthcoming weeks.
A combination of the falling wedge rally along with the Ichimoku Cloud breakout demonstrated the potential for additional market growth. If these technical levels could hold, analysts looked optimistic about a steady rise in price over the next few months.
In addition, a double bottom pattern on a TradingView chart revealed SUI crypto breaking through its $3.09 neckline, which signaled a reversal. SUI recently surpassed another neckline price resistance, indicating an ongoing positive trend.
The RSI reading of 56.65 indicated a mildly bullish momentum, while the MACD also signaled a bullish trend, supporting this positive outlook. Consequently, the positive trend at press time could push SUI toward its next resistance point at $5.36.
Further supporting a bullish outlook, recent analysis indicated that SUI price had broken a key descending trendline. It did so with rising trading volume and bullish patterns forming.
At the time of writing, SUI price had broken through multiple resistance levels, surpassing $2.80 and $3 levels to reach $3.59, with a 6.03% growth in a day.