The strong interest and confidence in SUI have emerged due to its bullish price action. According to expert technical analysis, SUI has formed a bullish cup and handle pattern and is poised for a breakout.
Based on historical price momentum, if the asset breaches the neckline of this bullish pattern and closes a four-hour candle above the $3.80 level, there is a strong possibility it could soar by 30% to reach the $5 level in the coming days.
However, mild resistance exists at the $4.20 level, where the 200 Exponential Moving Average (EMA) on the four-hour timeframe is forming, which could pose a hurdle to SUI’s upside rally.
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