#SUI🔥 #SUIPricePrediction $SUI

📊 SUI/USDT 1D Chart Analysis — Double Bottom Breakout Towards $8?

Based on chart, the SUI/USDT pair appears to be forming a clear Double Bottom pattern, which is typically a bullish reversal signal. Let’s break it down:

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✅ 1. Double Bottom Pattern:

Points (1) and (3) mark the two bottoms of the pattern.

The neckline is around $4.2, which also acts as the breakout level.

The price has broken above the neckline, confirming the double bottom pattern.

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✅ 2. Elliott Wave Structure:

The wave count from (1) to (5) follows an Elliott Wave impulse structure, indicating the start of a new bullish move.

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✅ 3. Ascending Trendline Support:

Each correction is forming higher lows, confirming a strong bullish structure with an ascending trendline.

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📈 Price Target Based on Double Bottom:

Formula:

> Target = Neckline + (Neckline − Bottom)

Neckline ≈ $4.2

Bottom ≈ $2.1

Height = 4.2 − 2.1 = 2.1

🔹 Projected Target = 4.2 + 2.1 = $6.3

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🔼 Extended Target:

If bullish momentum continues with strong volume, the next resistance level is near $8, which matches your projection.

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📊 Volume Confirmation:

The volume spike during the breakout further confirms the strength of the move.

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✅ Conclusion:

Yes, technically speaking:

✅ Double Bottom pattern is complete

✅ Breakout is confirmed with strong volume

✅ Trendline remains valid

✅ Elliott Wave structure supports bullish continuation

📌 If the price sustains above $4.2, then:

🎯 First target is $6.3

🎯 Next potential target is $8