Analyst Lau has made a bullish forecast for the price of Sui at $7, with a strong technical structure that can be seen in the weekly chart. In her analysis, SUI has respected an upward trend line on several test repetitions. The initial bounce from this trend line generated a rally of 1058% and the second bounce, of 122%. SUI has bounced once again from the same diagonal support and is trading above $3.38.
This action reflects its historical performance, which indicates the possibility of another explosive rally if the price continues its historical trajectory. The analyst states that the next major bullish move could be confirmed with a clear break above the level of $4.55.
The analyst emphasizes that each new previous test of the trend line generated strong bullish momentum. Furthermore, the new formation seems to follow the same script. As long as this upward support is maintained, Lau remains committed to her target of $7 based on repetitive patterns.
The higher lows and the continuous respect for the trend line show that buyers are becoming increasingly convinced. Therefore, the technical evidence strongly supports her bullish forecast for the price of Sui if the momentum continues.