#sui

$SUI Price Update: Retesting Key Support in Ascending Triangle ๐Ÿ“‰

$SUI is at a critical juncture, testing a vital support level around $3.10 after an 8% daily drop from $3.40. The altcoin, down 21% weekly, is consolidating within a multi-month ascending triangle pattern, with analysts eyeing a potential breakout or breakdown.

๐Ÿ”‘ Key Levels to Watch:

โ€ข Support: $3.10 (lower trendline of the triangle). A strong bounce here could signal a push toward the $4 resistance.

โ€ข Resistance: $4.00-$4.30. A breakout above $4 could target the all-time high of $5.35, with some analysts projecting a 75% rally to $7.

โ€ข Danger Zone: Failure to hold $3.10 risks a drop to $2.40-$2.90, invalidating the bullish setup.

๐Ÿ“Š Market Context:

โ€ข SUIโ€™s been stuck in a $3.10-$4.30 range since May, with recent market pullbacks halting its Q3 rally from a $4.44 high.

โ€ข Analysts like Daan Crypto Trades and Ali Martinez note the price compression in the triangle, suggesting a big move is imminent.

โš ๏ธ Whatโ€™s Next? A bounce from $3.10 could reignite bullish momentum, while a failure to hold this level may lead to a deeper retracement. Keep an eye on volume and market sentiment for clues!