$SUI is getting closer to a massive breakoutGrayscale officially launches SUI Trust for accredited investors seeking exposure to SUI.
After the news, SUI beats the market with a nearly 20% jump.
Since Raoul Pal mentioned SUI a month ago, the trend has shifted, with SUI now attracting more of the value, and the difference is now substantially in its favor.
SUI just had $83 million worth of token unlocks.
Technical Outlook:
SUI is getting closer to a massive breakout
On the 4-hour timeframe, it's starting to look very interesting as it's trading above 4hema200 and it's now challenging a psychological resistance $1 for the third time.
If it manages to close above $1, SUI could pump to $1.70 to $2 in the coming days.
SUIUSDT trade ideas
SUIIIIIIIIIIII see a lot of opportunity with this cryptocurrency right now.
BINANCE:SUIUSDT is #2 in the top gainers rankings on CoinMarketCap.
The cryptocurrency is up 17.79% in the last 24 hours.
The 24 hour volume is at $561,339,413 up 115.99% from the day before.
Their total market cap is at $2,760,588,561 with a total circulating supply of 2,679,963,750 SUI(26.80% of the maximum supply).
As you can see, SUI broke the upper trendline which gives us a lot of bullishness.
It also bounced the support level(0.8821$).
My target is at 2.13$ and my stoploss is at 0.8821$.
Good Luck!
$SUI Breaks Out of its Bull Flag! SUI NYSE:SUI (Sui) is forming a bull flag pattern on the 12H chart, which is typically a bullish continuation pattern. A breakout above the flag could indicate significant upward momentum.
📈 Entry Point: $1.0200 to $1.0400
🎯 Targets: $1.2000 $1.4000 $1.5000
🔄 Trading Options: SUI NYSE:SUI is available for trading on multiple exchanges. Consider setting a stop-loss at $0.9500 or if the price falls back into the flag pattern.
📊 About NYSE:SUI : Sui is a decentralized platform built for scalability and low latency. It aims to drive Web3 innovation with faster transaction speeds and lower fees.
📢 DYOR, NFA
#Crypto
SUI price smashes through $1 with 18% daily growthOver the last week, despite the increased volatility in Bitcoin and Ethereum before the CPI data release, SUI maintained a bullish trend. SUI price upheld a 15% rise then to rank among the top weekly performers.
Will the new recovery run and the price jump above $1 result in a new 52-week high for SUI this season? Let’s find out.
As the broader market sentiments are improving, the bull run in the SUI token price is expected to gain momentum. With the bullish narrative of SUI, the crypto analyst BMOON tweets about the upcoming rally with a potential target of $3.6.
Reflecting a positive channel in a weekly time frame, BMOON expects the bull cycle in SUI price within the channel to hit $3.6552.
Adding credibility to the project, Grayscale’s new Trust adds credibility to SUI, reinforcing positive market sentiment.
Currently, it has reclaimed the psychological mark of $1 and is trading with a 14.48% jump in the past 24 hours. With the recovery rally in motion, the past seven days for SUI price have been profitable, with a surge of 26.17%.
As per our technical analysis, the Logarithmic daily chart reveals a bullish cycle from the 23.60% Fibonacci level. The recovery run gains momentum as the retest of the falling channel breakout reveals massive demand at lower levels.
The bull cycle is now accounting for a price jump of 36.25% in the last ten days. With this, the SUI price is now challenging the crucial resistance of 50% Fibonacci level at $1.0541.
With a bullish engulfing candle of 11.4% intraday jump completing a morning star pattern, the sentiments are improving. Hence, the chances of a bullish breakout rally in SUI prices are significantly increasing. In the near term, before SUI reaches BMOON’s expected $3.65 target, the near-term resistances are at 61.80% and 78.60% levels at $1.23 and $1.55, respectively.
SUI: Weak MomentumSUI is trading near $0.9138, after a pullback from a high of $0.9865. The price is testing support near the lower Bollinger Band ($0.9023), following a cooldown after the recent spike in activity. Sui recorded 41 million transactions in 24 hours, surpassing Solana, showcasing growing interest and network utility.
Bollinger Bands and Price Compression
The Bollinger Bands are tightening, with the basis at $0.9339 and the upper band at $0.9655, signaling reduced volatility. A break below the lower band ($0.9022) could trigger further declines, while a reclaim of $0.9339 might lead to a recovery.
RSI and Stochastic: Oversold Conditions
The RSI is at 41.69, showing weak momentum, but the Stochastic Oscillator is deep in oversold territory, suggesting a potential short-term bounce if buyers return.
MACD Bearish, But Flattening
The MACD histogram (-0.0029) remains negative, but the lines are converging, indicating that bearish momentum might be weakening. A bullish crossover could signal a reversal, especially with ongoing positive developments, including recent institutional inflows and network upgrades.
On-Balance Volume (OBV) Decline
The OBV has dropped by -97.42M, indicating sustained selling pressure. However, the Sui blockchain has seen $310 million in inflows recently, suggesting a longer-term bullish outlook.
Support and Resistance Levels
Support: $0.9023 (Lower BB), $0.8800 (psychological level)
Resistance: $0.9339 (BB Basis), $0.9655 (Upper BB)
Short-Term Outlook
SUI is at a critical point near support. If $0.9022 breaks, further downside toward $0.8800 could unfold. However, with oversold conditions, a short-term bounce is possible, especially with Sui’s role as the official partner of Korea Blockchain Week, boosting its visibility and adoption. Watch for a move above $0.9339 as a sign of recovery.
SUI - Bullish times ahead?
SUI has been seeing very bullish action as of late. On the very long timeframe SUI has formed a possible double bottom with an almost full retrace of the last wave up. Creating a possible Low, Higher High and Higher Low structure on a macro-level (see pic1).
When we zoom into the current view, we are holding the range after forming the first higher high on the daily timeframe in weeks. Right now, we are consolidating and probably creating a W-structure with a first broad target between 1.20-1.40$ after price successfully breaks the 1.12$ price (see pic2).
Finally, SUI’s price is also moving within a downward parallel channel after a major pump, meaning this can be considered a Bull Flag (Bullish) (see pic3).
P.S. This is my first post to try things out, sorry if it is still a bit rough around the edges.
Zeddit
SUIUSDT - Long IdeaIn Monday (start of the new week) price swept previous week low liquidity (orange line) and show willingness to go higher by breaking the 4H structure.
So the following week I would expect to see price trades higher, potentially even to opposing liquidity pool like previous week high (orange line)
Thanks you and have a nice trading week! LFG!
SUI/USDT SUI presenting a large full-reset harmonic structure and appears to be type II'ing with a higher low off the reaction. I think its possible to strategise a decent risk/reward position here with a stop loss below the recent low. Worth bearing in mind the current trend for the sector is bearish so trade carefully.
BEST Altcoins You can BUY NOWMany altcoins are close to bottoming, if not bottomed already. Here are some of my top buys right now in preparation for the next impulse wave UP:
1) POPCAT COINEX:POPCATUSDT
Popcat is looking bullish with higher lows, holding the diagonal trendline well. I'd look at dollar-cost-averaging with two orders, one on the trendline as well incase the price doesn't drop as low.
2) SUI BYBIT:SUIUSDT
Looking good after a strong V-shaped recover and making higher lows, which is a bullish sign. I'd say first major resistance is 90c - if we can close candles ABOVE and towards 96c, I'd say more increase is very likely.
Just keep an eye on BTC. Wouldn't want to see a fake-out above 90c just to get another drop. So a conservative approach is closes above 96c zone.
3) LINK BINANCE:LINKUSDT
Chainlink is an old-timer, and a safe bet for the next bullish impulse wave.
4) RUNE BINANCE:RUNEUSDT
Another top-pick for 2024. I' be happy to buy anywhere between these two zones:
5) RNDR BINANCE:RENDERUSDT
I'd like to hope we'll see a lower entry on Render, but if the price keeps closing above the upper white trendline it's unlikely we'll drop to the lower buy zones
6) DOGE BINANCE:DOGEUSDT
An altcoin compilation wouldn't be an alt compilation without Doge! Happy to buy between these two zones:
7) FTM BINANCE:FTMUSDT
My ideal buy zone would be the middle area, I doubt we'll see the lower zones soon
8) NEAR BINANCE:NEARUSDT
I'd be happy to buy anywhere between these two zones:
There are MANY more, but for the sake of time and space... let's get started with these!
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SUI - CRYPTO LONGLooking at how much the market has dropped, the SUI coin is still holding up quite well. This means there is volume, and it is being supported. Why?
In my opinion, they are going to push it up. If the market stabilizes and stops falling, we could see growth. I have indicated the optimal target on the chart.
Trade Setup: SUI Long Position (Support Breakout) Market Context: SUI has broken above the prior support level from August and is showing strength by not fully retracing. This breakout provides a promising opportunity for a long trade.
Trade Setup:
Entry: Long spot position around $0.79.
Take Profit:
First target: $0.88
Second target: $1.00
Final target: $1.155
Stop Loss: $0.71
📊 This setup capitalizes on the breakout, with multiple profit targets to capture gains, and a stop loss to manage downside risk. #SUI #CryptoTrading #Breakout
Alikze »» SUI | Daily FVG gap🔍 Technical analysis: Daily FVG gap
- According to the analysis presented in the previous post, after creating demand in the green box area, it grew to the supply area.
- Currently, according to the structure formed in the supply area, a twin roof with a shorter roof is observed.
- But in the 8H time frame, it is moving in a descending channel. Demand has also been met at the bottom of the channel.
- Therefore, according to the FVG gap in the 1D time frame, if the selling pressure continues, it can make a correction to the green box area and retest it to fill the gap.
💎 Alternative scenario: also, if he can break the middle of the channel upwards, he can retest the supply area again.
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BINANCE:SUIUSDT
SUI Diamond Pattern Formation will Break to Downside (SHORT)I am Seeing a price crash and "V-Shape" recovery in the cards for the SUI price chart. Diamond pattern formation will break to the downside for a measured move down to the 1.618 fib extension. Fed emergency rate cut will reverse the markets back upwards into the US Elections.
Lower buy target @ or around 0.272
SUI Upside AnalysisAfter completing 5 waves down, bulls came back to the game and pushed an impulsive wave to the upside, which I'm labeling as 1/A.
The correction for wave 2/B is pretty straightforward, and I expect the yellow zone to offer support for another leg to the upside.
Targets can be set after we get a clear definition of wave 2.