- SUI is bouncing off support for the third time
- A strong ascending triangle is forming on the 1W chart
- $10 target remains as breakout nears
SUI is showing promising signs of strength as it continues to bounce off a key support level for the third time on the weekly chart. Traders and analysts are paying close attention as the token appears to be forming a textbook Ascending Triangle, a pattern known for signaling bullish breakouts.
This structure indicates a tightening price range where buyers are becoming increasingly aggressive. The support zone has held up well, and price action is now consolidating below the major resistance level at $4.30.
Ascending Triangle Builds Momentum
An Ascending Triangle typically forms when the market prints higher lows while facing a consistent resistance ceiling. In SUI’s case, the flat top resistance around $4.30 has been tested multiple times, and each bounce off support suggests growing bullish pressure.
The longer SUI stays just under the $4.30 level, the more likely a breakout becomes. If momentum picks up and this resistance is breached, a sharp move could follow — potentially triggering a rally toward the $10 target.
What Comes Next for SUI?
For now, SUI remains inside the triangle formation, with the $4.30 resistance acting as a crucial level to watch. If a breakout occurs on high volume, it could confirm the bullish setup and ignite the next major leg up.
Investors should monitor the weekly close and watch for any strong candle above the resistance line. A confirmed breakout could turn $4.30 into a new support level and clear the path toward double-digit pricing.
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