SUI Tests Its Make-or-Break $3.15 Support; Breakout Being Next
- Sui (SUI) is trading in a descending triangle, a classic pattern that signals a major breakout is near
- The key support level to watch is $3.15–$3.20; a hold here could lead to a rally toward $5.00 and $10.00
- Over $780 million in open interest is positioned on exchanges, ready for the next major move
Sui (SUI) is trading in a tight consolidation pattern that is getting ready to resolve, and analysts say the next move could be explosive.
The token is repeatedly testing a critical support floor around $3.15–$3.20. A successful defense of this level could set the stage for a nearly 3x rally toward a $10 price target. To refresh, the token currently trades near $3.30, reflecting a slight 24-hour drop of 0.57% and a sharper 7-day loss of 6.66%.
Even with these setbacks, the project still commands a market capitalization of nearly $11.8 billion, supported by a circulating supply of 3.6 billion tokens. Analysts argue that this consolidation phase could set the stage for the “next leg” upward, provided key technical levels hold firm.
The Technical Setup: A Descending Triangle Nears Its Apex
The entire story for SUI right now can be seen in one chart …
The post SUI Tests Its Make-or-Break $3.15 Support; Breakout Being Next appeared first on Coin Edition.
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SUI Tests Its Make-or-Break $3.15 Support; Breakout Being Next
- Sui (SUI) is trading in a descending triangle, a classic pattern that signals a major breakout is near
- The key support level to watch is $3.15–$3.20; a hold here could lead to a rally toward $5.00 and $10.00
- Over $780 million in open interest is positioned on exchanges, ready for the next major move
Sui (SUI) is trading in a tight consolidation pattern that is getting ready to resolve, and analysts say the next move could be explosive.
The token is repeatedly testing a critical support floor around $3.15–$3.20. A successful defense of this level could set the stage for a nearly 3x rally toward a $10 price target. To refresh, the token currently trades near $3.30, reflecting a slight 24-hour drop of 0.57% and a sharper 7-day loss of 6.66%.
Even with these setbacks, the project still commands a market capitalization of nearly $11.8 billion, supported by a circulating supply of 3.6 billion tokens. Analysts argue that this consolidation phase could set the stage for the “next leg” upward, provided key technical levels hold firm.
The Technical Setup: A Descending Triangle Nears Its Apex
The entire story for SUI right now can be seen in one chart …
The post SUI Tests Its Make-or-Break $3.15 Support; Breakout Being Next appeared first on Coin Edition.
Read More
Cardano (ADA) Price Prediction: Analysts Predict $0.92 Breakout After Historic Governance Vote