$SUI
🚨 SUI Technical Analysis: Key Chart Patterns Signal Upside🚨
In his latest podcast, the analyst detailed several chart patterns suggesting a potential SUI rally, including a Head-and-Shoulders formation on the one-hour chart. Breaking the upper resistance will boost SUI’s bullish momentum and lead to a significant rally aiming for higher levels.
A falling wedge pattern on SUI’s weekly chart supports this bullish view of the crypto asset’s trajectory. During the analysis, the analyst described the formation as a consolidation phase that SUI has now completed.
By fulfilling the signal, the cryptocurrency has broken out of the wedge and moved in confirmation of analysts’ expectations.
SUI traded for $3.97 at the time of writing, three weeks after breaking out of the falling wedge pattern, according to data from TradingView. SUI price surge of 140% from its previous lows confirms SUI’s upward reversal and boosts the recovered bullish momentum.
Interestingly, SUI’s bullish behavior cuts across multiple timeframes, with TradingView’s data revealing how the crypto asset broke out of a falling wedge on the daily chart.
Typically, crypto analysts consider aligning patterns across multiple timeframes a significant indicator during notable price movements. Such scenarios cause short-term and long-term investors to view the market from a particular perspective and accommodate a uniform sentiment over the same period.