SUIUST trade ideas
SUI's Impressive Performance
SUI started its upward trend when it broke through a 5.5-month downtrend shortly after its first listing times.
Now, by breaking through another 5-month downtrend between April and August, it has initiated a new uptrend. In just 2 months, it has quadrupled in price, capturing the market's attention.
After breaking the resistance of the blue downtrend, the price retested this level for two weeks and then continued upward. This indicates a healthy price movement.
The next significant resistance level seems to be around $1.86 - $1.95. If SUI can successfully maintain its price above this level, we can expect a positive short-term view.
In case of a potential pullback, we can use the orange uptrend channel as a reference. This is a healthy structure that has been in place since SUI's bottom. I believe it will provide good support during any retracements. It's upper line shows anout $1.4 nowadays.
Sui (SUI) scores 11% growth in the last 24 hours: analysisWith a bullish recovery rally gaining momentum, the SUI token price shows an exponential rise. Over the past 24 days, it has increased by 135%, with a streak of massive bullish engulfing candles.
Currently, it is challenging the 78.60% Fibonacci level at $1.74. With a golden crossover in the daily chart, the RSI line is trading high in the overbought zone.
Based on the Fibonacci level, the next target for this rising altcoin stands at $2.00, with the upside potential to the $3.00 resistance level at $1.618 Fibonacci level.
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Structure Mapping
Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences
Sui (SUI): are we seeing 5$ growth?As the bull run in the crypto market gains momentum, the SUI price skyrockets at a breakneck speed. With a streak of bullish candles, the uptrend in SUI is challenging a resistance trendline near the initial price of $1.6785.
Will a new breakout run surpass the 78.60% Fibonacci level to hit the $5 psychological mark in October?
With a rounding bottom reversal in the weekly chart, the SUI price reveals a trend reversal rally. As the altcoin exceeds more than 100% returns in the last three weeks, the uptrend in SUI surpasses the $1.50 psychological mark.
The rounding bottom reversal teases a double bottom pattern with a neckline near $1.67. Further, the all-time high of $2.18 remains a high supply zone, and a breakout above this will boost the bull run.
Currently, the SUI price is trading at $1.55 with an intraday drop of 2.04%, concluding the bullish streak. Trading at just a 30% discount from its all-time high, the bull run shows potential for a new all-time high.
With the bullish trend reversal rally gaining momentum, the SUI price is likely to complete a double-bottom reversal beyond the 78.60% Fibonacci level at $1.7712.
Based on the Fibonacci levels, the uptrend in the SUI price is likely to target the $3 and $5 psychological mark. Further, the bull run history of the crypto market in October bolsters the chances of hitting the target.
On the flip side, the support levels for SUI are present at $1.50 and $1.33.
SUI/USDT Technical Analysis, 154% Potential surge in few weeks.SUI is showing strength as it approaches a critical resistance level. A confirmed breakout could push SUI into a price discovery phase, opening up the potential for significant gains.
Current Price: Around $1.02
Optimal Entry Zone: $0.75 to $1.00
Target: $2.58 (154% potential gain)
Resistance: A breakout above this level could unlock major upside potential
Lower Support: Strong support around $0.50
Two Potential Scenarios:
Scenario 1: A breakout and daily close above $1.10 will trigger a strong buy signal.
Scenario 2: A retest of the lower level between $0.75 to $0.95 offers an opportunity to accumulate.
Strategy:
To maximize gains while minimizing FOMO, consider buying 30% at the current price (CMP) and adding the remaining 70% if either of these scenarios plays out. This way, you’re positioned for profit regardless of the market's direction.
A breakout above this key resistance could see SUI reaching new highs.
This is a setup worth watching, especially for those looking to accumulate on retests.
Please keep it on your radar!
Not financial advice. DYOR!
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