SUI bullish chart pattern confirmation sets breakout target at $3.89
2025-07-10 22:51:43
Main Idea
SUI's breakout above a bullish chart pattern suggests a potential rally to $3.89, with key indicators signaling bullish momentum, though a drop below the 20-day EMA could reverse the trend.
Key Points
1. SUI broke above the 50-day simple moving average ($3.08) and showed bullish momentum with the 20-day EMA turning up and RSI in positive territory.
2. If buyers maintain the price above the 50-day SMA, the SUI/USDT pair could rally to $3.50 and then to the pattern target of $3.89.
3. A drop below the 20-day EMA ($2.92) could signal bearish momentum, potentially driving the price down to $2.64 and later to $2.29.
4. The 4-hour chart shows the RSI nearing overbought levels, suggesting a possible pullback before further upward movement.
5. Bitcoin's price trends are also noted, with mentions of potential highs and profit-taking levels.
Description
SUI broke out of an inverse head-and-shoulders pattern, opening the door for a rally to $3.89.
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