SUI is moving decisively on the chart, breaking through key levels with rising momentum, signaling a shift in sentiment and renewed bullish interest. With volume picking up and structure turning clean, SUI could be setting the stage for a move if this momentum holds.
Immediate Targets In Sight — But Can SUI Push Further?
In an X post, crypto expert and moderator, Tinkerbell, shared an update that SUI has broken decisively above the $3.00 mark, surging to $3.08 and notching a 9% gain on Thursday, July 3rd. The price action reflects a breakout on the chart, which shows strong momentum, is backed by rising volume and steady buying pressure, signaling that bulls are firmly in control.
Related Reading
If this strength continues, Tinkerbell highlights the $3.25 as the next immediate target, followed by the $3.50 level, both levels could act as stepping stones for further upside.
Another analyst, Professor, mentioned that SUI has come alive on the charts, and it’s pumping. With a sharp 11.08% gain in the past 24 hours, the token is currently trading at $3.02, marking one of the strongest day performances across the market.
SUI broke through the key resistance level, a zone that had capped upside momentum for weeks. This breakout arrived quietly, with strong bullish momentum, increased volume, and a shift in sentiment that now favors the bulls.
Professor also highlighted in another X post that a textbook bullish reversal for the SUI 1-hour chart. After finding strong support around $2.65, the price began forming a series of higher lows, signaling a clear shift in momentum. The structure, paired with rising volume, pointed to growing buyer confidence.
This setup led to a breakout, with SUI blasting through short-term resistance at $2.90 and reaching as high as $3.04. This move established a new high, signaling the potential start of a sustained uptrend.
Momentum Indicators Point To A Cautious Climb
SUI shows a gradual uptrend on the daily chart, currently trading at $3.02. Cleanwater, a crypto analyst, pointed out that after touching lows near $2.50 in late June, the price has steadily climbed, forming a series of higher lows and attempting to establish a recovery pattern.
Related Reading
The Relative Strength Index (RSI) sits at 52.94, suggesting neutral momentum, placing SUI in the middle of the momentum range between overbought and oversold. Meanwhile, the MACD shows bullish divergence, indicating possible strength building on the surface that is not yet at the breakout levels.
SUI key resistance is around $3.50, which will be a crucial level to clear if bulls want to sustain upward momentum. On the downside, $2,80 is a support zone that needs to hold for this recovery structure to remain intact.
Market expert Trade4ddict also noted that SUI has confirmed an ascending triangle breakout on the 4-hour chart, showing a continuation of bullish momentum. After a brief retest, price action has turned green with trend bars painting a promising picture for the days ahead.
The analyst stated that the chart looks very bullish, and he has entered a long position targeting the $3.74 level, which aligns with previous highs and offers a clean objective if this bullish wave continues.
Featured image from AdobeStock images, chart from tradingview.com
Credit: Source link
