SUI Shows Potential for Rally Toward $3.89 Following Bullish Pattern Breakout
2025-07-10 22:35:09
Main Idea
SUI's breakout from a bullish pattern suggests a potential rally to $3.89, supported by technical indicators and Bitcoin's positive market influence.
Key Points
1. SUI rebounded from the 20-day EMA at $2.92 and surpassed the 50-day SMA at $3.08, confirming a bullish breakout.
2. Technical projections indicate a near-term climb to $3.55, with a pattern target of $3.89 if the price sustains above the 50-day SMA.
3. The neckline of the inverse head-and-shoulders pattern near $3.08 acts as a strong support zone; a rebound here could propel SUI toward its target.
4. A failure to maintain support at $3.08 could lead to a bearish reversal, with potential declines to $2.80.
5. SUI's price surge aligns with Bitcoin's recent all-time high, indicating broader market bullishness and potential for further gains.
Description
SUI’s recent breakout from an inverse head-and-shoulders pattern signals a potential bullish rally toward $3.89, marking a significant technical milestone. The altcoin’s price momentum is supported by key moving averages
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