🟦 SUI Price Analysis: Inverse Head & Shoulders Breakout Retest In Progress
📅 May 15, 2025 | ⏱️ 1 min read
Sui Network (SUI) is currently retesting the neckline of a confirmed inverse head & shoulders pattern on the daily chart, a classic bullish reversal formation.
📊 Technical Highlights:
Neckline Retest: Price is testing the breakout zone near $3.75–$3.90. A strong bounce here could validate the pattern and confirm support.
Pattern Implication: If the neckline holds, SUI could rally toward the next major resistance zone around $5.18, which aligns with its previous all-time high.
200-Day MA: Price is well above the 200-day moving average, reinforcing long-term bullish structure.
RSI: Currently cooling off, suggesting the market is resetting for the next possible move.
🔍 Outlook
As long as the neckline holds, SUI remains positioned for a potential continuation rally. Bulls may aim for a breakout above resistance, targeting new highs in the coming weeks.
🛑 Breakdown Warning: A failure to hold above $3.75 could invalidate the bullish setup and lead to a deeper correction.
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