SUI is about to pump again!

This rebound is similar to the last one; if history repeats itself, SUI could soar by over 90%.

In today's market, bullish momentum continues to drive many altcoins up, with Bitcoin's dominance significantly dropping from 61.53% to 55.83%.

SUI has risen over 14% in the last 24 hours, attracting great attention, and its movement has emitted strong bullish signals.

The chart shows a breakout from a downtrend line, indicating that its recent correction phase may be coming to an end. After reaching a high of 3.93 on November 16, SUI experienced a pullback to 3.27, marking a nearly 25% correction. This correction formed a descending resistance trend line, which SUI decisively broke through today, reaching 3.52. The breakout has pushed the price up to its current level of 3.71, with buyers seemingly gaining control.

This breakout is reminiscent of the price action on November 5, when a similar movement broke through the 2.0 trend line, resulting in a significant price increase of 92% to 3.93. The current price action strongly reflects the previous breakout, further fueling bullish sentiment.

Technical aspects:

Trading above the 50 and 100 EMA lines on the 4-hour chart indicates that short-term and medium-term momentum has shifted in favor of the bulls.

The RSI is currently hovering around 66, showing strong bullish momentum but has not yet entered the overbought zone. This leaves room for further upside.

Historically, if this fractal repeats, SUI could rise by about 90% from the breakout point of 3.52, which could mean looking at levels above 6.0 next.

The symmetry between SUI's previous and current movements, along with strong technical indicators, makes this scenario possible.

However, to achieve this rebound, SUI must maintain its position above the breakout level and sustain bullish momentum in the coming trading days.

If anyone is confused due to market fluctuations and doesn’t know how to deal with a trapped situation, or feels lost,

As a seasoned cryptocurrency investor, I freely share my experiences and insights. Interested in the crypto space but don’t know where to start? Click on my avatar for more information, and let’s witness the moment of miracles together. $XRP $SOL $BNB #加密市场狂热 #美国合规概念币走扬 #美国合规概念币走扬 #Layer1公链普涨