$SUI /USDT Breakout Analysis 1D Chart:
SUI has broken out of a clear falling wedge pattern on the daily timeframe ā a bullish reversal structure. This breakout is significant, especially with strong volume confirmation and price now trading above both the wedge and the 50 EMA.
šø Support $3.05:
The 50 EMA aligns closely with the $3.05 level, now acting as a solid support. Retesting this area successfully would validate the breakout further.
šø Upside Target: $5.5
The projected move based on the wedge's height suggests a run toward the $5.0ā$5.5 zone, especially if bulls maintain control.
šø Risk Level at $2.80:
A daily close back below the wedge and 50 EMA would invalidate the bullish breakout and suggest caution.
šø Watch for a potential retest of $3.05ā$3.20. If this zone holds, it could be a strong entry area with upside potential toward $4.0, $4.7, and $5.5 in the coming weeks.
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