$SUI
🚨 SUI Price Breakout Aims To Surpass $6 🚨
Sui price action between $2.08 and $3.87 rallied 86% in April and then consolidated for a week to test the $3.18 support. This price action is known as a bull flag, with the 86% rally termed as the flag pole and the consolidation as the flag. This technical formation is a bullish one and forecasts a continuation of the prior trend.
The bull flag target for SUI price is obtained by adding the pole’s height of 86% to the breakout point of $3.36. This shows that the theoretical target for the token is $6.26. Based on this, Sui is expected to witness a 60% upside from the current market price.
The Relative Strength Index at 65.82 sirens gradual growth in the underlying bullishness. Additionally, the Chaikin Money Flow index at 0.18 shows positive flows fueling the SUI leap. Hence, the technical signals and price analysis back the possibility of Sui price printing a new all-time high.
As per the trend-based Fibonacci levels, the SUI price hit the 38.20% level at $4.01 before witnessing a 5% pullback. However, the pattern breakout bolsters SUI price prediction to cross the 100% level. Such a scenario will put the 161.8% Fibonacci level at $8.46 on bullish radars.
