SUI’s triangle breakout confirmed: Can price rally past key barriers?

Key Points

1. SUI broke out of a multi-month symmetrical triangle, with a current price around $3.70, suggesting potential upside to $7 based on Fibonacci extension levels.

2. Exchange outflows of $8.74 million indicate reduced sell-side pressure, aligning with accumulation trends and reinforcing the breakout's legitimacy.

3. Weighted Sentiment dropped to -0.934, reflecting subdued social buzz, which may limit FOMO-driven buying despite strong technicals.

4. Spot Taker CVD shows ongoing sell pressure, with resistance expected between $3.80 and $4.00, where $3 million in long liquidations recently occurred.

5. Clearing the $4.00 zone is critical for sustaining the rally; failure to do so may stall momentum until fresh demand emerges.