#BTCBreaksATH
Confirmation of bullish chart pattern for SUI sets breakout target at $3.89.✨💥✨💥✨💥✨
$SUI 🔸🔸🔸🔸🔸
SUI emerged from an inverted head and shoulders pattern, opening the door to a rally up to $3.89.
✨Key points:
🔸SUI broke above a bullish pattern, opening the doors to a possible rally up to $3.89.
Bitcoin BTC €100,855 reached a new all-time high on Thursday, and bullish sentiment has spread to some altcoins. One of those altcoins is SUI €3.03, which surged 11.3% to $3.41.
Could SUI continue its upward movement? Let's analyze the charts to find out.
SUI price prediction
SUI surged sharply from the 20-day exponential moving average ($2.92) on Wednesday and broke above the 50-day simple moving average ($3.08) on Thursday.
The 20-day EMA is attempting to rise, and the relative strength index (RSI) has jumped into positive territory, indicating that bulls are back in the game. If buyers maintain the price above the 50-day SMA, the SUI/USDT pair could rise to $3.55.
Contrary to this assumption, if the price drops and breaks below the 20-day EMA, it signals that bears continue to sell on rallies. The pair could then descend to $2.64 and later to $2.29.