SUI Bull Run Chances Of Reaching $5SUI Price Skyrockets Amid Bull Run: SUI has experienced a significant price increase, skyrocketing as the crypto market gains bullish momentum.
Streak of Bullish Candles: The uptrend is marked by a series of bullish candles, indicating strong buyer interest and sustained upward pressure on the price.
Challenging Resistance at $1.6785: The SUI price is currently challenging a key resistance trendline near $1.6785, a critical level that coincides with its initial trading price.
Potential Breakout Beyond 78.60% Fibonacci Level: A new breakout could surpass the 78.60% Fibonacci retracement level at $1.7712, paving the way for further gains.
Rounding Bottom Reversal Pattern: On the weekly chart, SUI displays a rounding bottom reversal, signaling a potential long-term trend reversal from bearish to bullish.
Over 100% Returns in Three Weeks: The altcoin has delivered more than 100% returns in the last three weeks, highlighting strong performance and investor confidence.
Surpassing the $1.50 Psychological Mark: The uptrend has successfully crossed the $1.50 psychological barrier, reinforcing bullish sentiment in the market.
Double Bottom Pattern Formation: The rounding bottom hints at a double bottom pattern with a neckline near $1.67, which, if broken, could trigger a significant price rally.
All-Time High at $2.18 as Key Supply Zone: The previous all-time high of $2.18 represents a major supply zone; surpassing this level could accelerate the bull run and lead to new highs.
Current Price and Market Pause: SUI is trading at $1.55 with an intraday drop of 2.04%, indicating a brief pause in the bullish streak but maintaining overall upward momentum.
Golden Crossover Signals Strong Uptrend: A bullish crossover between the 50-day EMA and the 200-day EMA, known as a golden crossover, suggests a strong potential for continued upward movement.
RSI Nearing Overbought Territory: The weekly RSI is approaching the overbought boundary, reflecting increased buying pressure and bullish market conditions.
Targets at $3 and $5 Psychological Marks: Based on Fibonacci extensions and bullish momentum, SUI may target the $3 and $5 psychological levels in the near future.
Historical Bullish October: The crypto market's history of bullish trends in October bolsters the likelihood of SUI reaching its ambitious price targets during this period.
Support Levels at $1.50 and $1.33: Key support levels are identified at $1.50 and $1.33, which could act as strong foundations in case of a price correction.
