SUI confirmed a bullish breakout with a successful retest of triangle resistance, turning it into strong short-term support.
Price is trending above the Ichimoku Cloud, while the leading span turns green, indicating sustained bullish market strength.
A projected target of $10 suggests over 100% potential upside from $4, offering a strong technical risk-reward setup.
The current SUI price movement has captured market attention following a breakout from a symmetrical triangle, confirming a bullish trend setup.
Breakout Confirmed by Retest and Volume Support
The Crypto Express noted that SUI has successfully broken out of a symmetrical triangle pattern and retested the breakout zone. This behavior affirms the breakout, with the price holding firm above the former resistance. The triangle pattern, known for signaling potential continuation, is now serving as a support base.
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The price action confirms structural strength, and the retest has validated the breakout point. This action augments the likelihood of an enduring rally of the upside. The most recent candlesticks in the daily chart have the increasing volume and are large in terms of the body as the buying interest grows and supports the upwards trend.
Ichimoku Cloud Signals Bullish Momentum
Technical indicators also confirm the prevailing trend particularly the Ichimoku Cloud. Based on the analysis, the price has started to go above Ichimoku Cloud. This trend is likely to indicate that the bullish sentiment is on the rise.
The leading cloud is now going green at the leading span, an early confirmation of the upward continuation. The Ichimoku Cloud now acts as a dynamic support zone, helping stabilize the ongoing move. The combination of price structure and cloud positioning aligns with a strong bullish setup.
Upside Targets and Risk Management
The chart further shows that the projected price target is near the $10 mark, reflecting a possible gain of over 100%. This estimation follows traditional breakout projection methods measured from the height of the triangle pattern.
The price of SUI stands at $3.89 as of writing, showing a daily decline of 2.96% and a 7-day dip of 1.22%. However, technical support near the triangle apex provides a clear invalidation level, ensuring risk remains limited. The setup presents a favorable risk-reward profile based on the technical framework.
SUI appears to be positioned for a sustained rally, provided buying pressure continues and the breakout support holds firm.
