SUI’s momentum has interested analysts, with projections suggesting a surge to $7. Crypto expert Ted has outlined a compelling case for this forecast.
His technical analysis highlights SUI’s breakout above key resistance levels and sustained upward momentum. This performance, coupled with strong market sentiment, positions SUI as one of the strongest tokens in this cycle.
SUI’s Bullish Breakout Validates Strong Uptrend
Ted’s analysis highlights SUI’s recent breakout above the critical $4.90-$5.00 resistance zone. This move confirms bullish dominance and marks a pivotal shift in market structure. The price has consistently formed higher lows, strengthening the uptrend.
Additionally, a double rounded-bottom pattern, identified on the 4-hour chart, signals accumulation and a reversal from bearish sentiment. Ted describes this breakout as a key indicator of SUI’s growing market strength.
Support Zones Reinforce Rally Potential
The analysis points to the $4.00-$4.20 region as a strong demand zone, where buyers have repeatedly stepped in. This level, along with the newly flipped $4.90-$5.00 support, provides a solid foundation for further growth. At press time, SUI trades at $5.00, down 1.83% over the past day.
Ted’s chart shows the next resistance at $6.50-$7.00, emphasizing the psychological significance of the $7.00 mark. Historically, round numbers like this often act as hurdles during bullish rallies, but current momentum suggests a breakthrough is likely.
Technical Patterns Signal Sustained Growth
SUI’s chart displays a double rounded-bottom formation, reinforcing its bullish trend. The pattern reflects strong buying interest, which has driven the token’s consistent higher highs. Ted’s analysis also hints at a possible retest of the $4.90-$5.00 support zone.
Such a retest would validate the strength of the breakout, setting the stage for the next leg of the rally. Momentum indicators, including consecutive green candles, signal robust buy-side pressure.
Read also: Will Solana Bounce Back? SOL’s Liquidation Zone Could Be the Turning Point
$7 Target in Sight for Q1 2025
Ted described SUI as one of the strongest performers this cycle, backed by its consistent rallies and bullish structure. With no major resistance until $7.00, the target appears achievable in Q1 2025, aligning with market trends.
If momentum persists, SUI could aim for even higher levels, potentially reaching $8.00 or $9.00 in the future. SUI’s breakout has positioned it as a standout in the crypto market, with analysts watching its path to $7 closely.
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