SUI is consolidating in a bullish falling wedge pattern, with a potential breakout on the horizon if resistance levels are breached.
The price structure remains locally bearish until a confirmed move above the BOS zone, signaling a possible trend reversal.
Key levels to watch are $3.24 as support and $3.38 as resistance, with further upside potential if the structure is reversed to bullish.
The SUI token appears to be about to reach a pivotal level as technical indicators suggest the possibility of a short-term trend reversal. The latest price action suggests SUI as consolidating in a downtrend channel, normally viewed by analysts as a bullish continuation pattern.
At the latest estimates, SUI is trading around $3.31, recording a small 1.8% increase in the last 24 hours. Its nearest support is at $3.24, while resistance is around the level of $3.38.
Key Technical Zones and Market Behavior
The current setup highlights a green rectangular zone, identified by market observers as a Break of Structure (BOS) zone. This area holds significance as it represents a potential pivot point for trend confirmation. As of now, the price action remains below this BOS zone, indicating a locally bearish structure. However, this consolidation pattern, forming lower highs and lows within a falling wedge, hints at weakening bearish momentum.
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Analysts suggest that a clean breakout above the BOS zone could serve as a trigger for bullish momentum. If the breakout is confirmed with strong volume and a successful retest of the support-turned-resistance level, a structural flip to bullish would be in place. In this scenario, market participants are advised to watch for a retest into the BOS zone for a potential entry point, placing stop-losses below the recent swing low to manage downside risk.
Upside Potential and Market Outlook
If bullish confirmation materializes, the price may retest the upper resistance levels, with projections suggesting a move towards the $4.10–$4.20 range in the near term. While speculative discussions mention a potential run past the $10 mark during future price discovery phases, such targets remain dependent on broader market sentiment and macroeconomic catalysts.
Despite the constructive chart pattern, SUI’s structure remains technically bearish until a breakout is confirmed.
In summary, SUI is navigating a period of consolidation with a potential for a bullish breakout. However, confirmation above the BOS zone remains essential for any upward momentum to sustain.
The post SUI Targets $4.10 as Price Consolidates Below Key $3.38 Resistance Zone appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
