SUIUSDT Daily Chart Analysis | Bullish Breakout, Fibonacci Levels & Major Targets
🔍 SUI/USDT is showing powerful momentum after breaking out of its descending channel, now pressing against a significant daily resistance. Let’s break down the technical landscape, highlight key Fibonacci retracement zones, and outline the next bullish targets.
⏳ Daily Overview
SUIUSDT has decisively broken above the $4.0554 daily resistance, signaling a potential shift in market structure. This breakout is supported by strong volume and a clear reversal from the previous downtrend.
🔹 Fibonacci Retracement Levels
- The 0.5 correction level sits at $2.0830, a classic area for healthy pullbacks and potential re-accumulation.
- The 0.618 “faking” level is at $1.7594, often a zone for shakeouts and false breakdowns before a bullish continuation.
🔸 Key Resistance
- The $4.0554 level marks a critical daily resistance. A confirmed breakout and hold above this area paves the way for further upside.
🚀 Bullish Targets from Trend-Based Fibonacci Extension
- If SUIUSDT sustains above $4.0554, the next major bullish targets are $7.0373 and $9.6464. These levels are derived from trend-based Fibonacci extensions and represent the next potential resistance zones as the bullish trend unfolds.
📊 Key Highlights
- Strong breakout above daily resistance at $4.0554 with high volume.
- Watch for potential corrections to the 0.5 ($2.0830) and 0.618 ($1.7594) Fibonacci retracement levels for possible re-entry or confirmation of trend strength.
- The next bullish targets are $7.03 and $9.64, in line with the trend-based Fibonacci extension tool.
- These targets are only likely in a sustained bullish market environment.
🔎 Confirmation Checklist
- Monitor Bitcoin Dominance (BTC.D): A reversal or drop in BTC.D could favor altcoin rallies, including SUI.
- Watch SUIBTC: Outperformance of SUI against BTC would further confirm bullish momentum and the probability of reaching higher extension targets.
🚨 Conclusion
After breaking the $4.0554 daily resistance, SUIUSDT opens the door for a move toward $7.03 and $9.64, provided the broader crypto market remains bullish. Confirmation from BTC.D and SUIBTC pairs will be crucial for validating the strength and sustainability of this breakout. Stay alert for volatility and use Fibonacci retracement levels as key zones for managing risk and spotting new opportunities.
#SUI #CryptoAnalysis #TradingView #Altcoins #ACA
🔍 SUI/USDT is showing powerful momentum after breaking out of its descending channel, now pressing against a significant daily resistance. Let’s break down the technical landscape, highlight key Fibonacci retracement zones, and outline the next bullish targets.
⏳ Daily Overview
SUIUSDT has decisively broken above the $4.0554 daily resistance, signaling a potential shift in market structure. This breakout is supported by strong volume and a clear reversal from the previous downtrend.
🔹 Fibonacci Retracement Levels
- The 0.5 correction level sits at $2.0830, a classic area for healthy pullbacks and potential re-accumulation.
- The 0.618 “faking” level is at $1.7594, often a zone for shakeouts and false breakdowns before a bullish continuation.
🔸 Key Resistance
- The $4.0554 level marks a critical daily resistance. A confirmed breakout and hold above this area paves the way for further upside.
🚀 Bullish Targets from Trend-Based Fibonacci Extension
- If SUIUSDT sustains above $4.0554, the next major bullish targets are $7.0373 and $9.6464. These levels are derived from trend-based Fibonacci extensions and represent the next potential resistance zones as the bullish trend unfolds.
📊 Key Highlights
- Strong breakout above daily resistance at $4.0554 with high volume.
- Watch for potential corrections to the 0.5 ($2.0830) and 0.618 ($1.7594) Fibonacci retracement levels for possible re-entry or confirmation of trend strength.
- The next bullish targets are $7.03 and $9.64, in line with the trend-based Fibonacci extension tool.
- These targets are only likely in a sustained bullish market environment.
🔎 Confirmation Checklist
- Monitor Bitcoin Dominance (BTC.D): A reversal or drop in BTC.D could favor altcoin rallies, including SUI.
- Watch SUIBTC: Outperformance of SUI against BTC would further confirm bullish momentum and the probability of reaching higher extension targets.
🚨 Conclusion
After breaking the $4.0554 daily resistance, SUIUSDT opens the door for a move toward $7.03 and $9.64, provided the broader crypto market remains bullish. Confirmation from BTC.D and SUIBTC pairs will be crucial for validating the strength and sustainability of this breakout. Stay alert for volatility and use Fibonacci retracement levels as key zones for managing risk and spotting new opportunities.
#SUI #CryptoAnalysis #TradingView #Altcoins #ACA
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.