SUI Recovery in Play: Targeting $1.44 After Key Breakout
Updated
After reaching an all-time high (ATH) above $2 at the end of March, SUI entered a correction that pushed the coin below the key $1 level, reaching a low just under $0.50 on August 5th. However, SUI quickly recovered, and by August 8th, the SUI/USDT pair had broken above the falling resistance line of the channel, hitting a high above $1 on August 12th.
Following this move, the coin consolidated below this critical level, forming a clear higher low around the $0.75 zone. Currently, SUI is trading back above $1, sitting just below an important technical resistance. A breakout above this resistance appears imminent, with the first target for further upside being $1.44, representing a potential 40% rise.
Looking further ahead, if the broader crypto market continues to show optimism toward the end of the year, SUI could potentially retest its previous ATH above $2.
Following this move, the coin consolidated below this critical level, forming a clear higher low around the $0.75 zone. Currently, SUI is trading back above $1, sitting just below an important technical resistance. A breakout above this resistance appears imminent, with the first target for further upside being $1.44, representing a potential 40% rise.
Looking further ahead, if the broader crypto market continues to show optimism toward the end of the year, SUI could potentially retest its previous ATH above $2.
Trade closed: target reached
First target was reached a while back.
Now SUI is going for test above 2
Trade closed: target reached
Second target at 2usd HIT!
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