SUI's current corrective structure closely resembles earlier cycles that preceded strong bullish rallies.
RSI at 57 and MACD convergence signal building momentum, suggesting potential for a breakout without overbought risks.
While structurally bullish, increased trading volume is essential to validate a breakout above $4.20 and $6.00 resistance zones.
SUI's price action has entered a familiar phase, echoing earlier cycles that led to sustained rallies. Recent technical formations suggest the asset may be aligning with a pattern of structured corrections followed by sharp bullish impulses. These movements have previously preceded significant gains, and current conditions indicate that the same trajectory could be unfolding again.
SUI Mirrors 2023 Pattern, Hints at Potential Upside
On the higher time frames, SUI appears to be completing a corrective structure similar to the one seen in mid-2023. A combination of downward price compression followed by sharp recoveries has emerged consistently on the chart.
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Analysts have pointed to this repeating cycle, noting the “we are here” labels that mark current positioning within this pattern. If historical movements remain consistent, SUI could be preparing for a renewed upward trend, with speculative targets extending beyond the $10 mark.
SUI Momentum Indicators Point to Strength
Momentum readings offer further insight into SUI’s current state. The Relative Strength Index (RSI) currently holds near 57, reflecting balanced conditions without entering overbought territory. This level often suggests the potential for upward movement without triggering immediate reversal signals.
Meanwhile, the MACD histogram shows a slow but persistent recovery in buying momentum. The convergence of the MACD and signal line is currently mild but could shift to a more aggressive crossover if price consolidates further at higher levels.
SUI Eyes Breakout, but Volume Confirmation Needed
Despite encouraging technical signals, trading volume remains relatively neutral. Market observers note that a breakout would require confirmation through increased participation. However, chart projections indicate that if current support levels hold—especially above the $2.80–$3.00 zone—the next impulse move could accelerate quickly. Resistance near $4.20 and later at $6.00 may define the first challenge zones if momentum builds.
As of now, SUI remains structurally bullish from a pattern-recognition standpoint trading at $3.49. While confirmation from volume and broader market sentiment is still required, the setup mirrors previous conditions that led to significant upside.
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