SUI/SOL Trendline Breakout with 257% Upside PotentialAfter months of trading within a downtrend, SUI/SOL has broken out above its descending trendline, indicating a potential reversal in trend. Here's a closer look:
1️⃣ Trendline Breakout:
The downtrend that began in mid-2023 has now been invalidated by a decisive breakout above the resistance trendline.
This breakout is backed by strong price momentum and increasing volume, suggesting growing buyer interest.
2️⃣ Measured Move Target:
By measuring the previous swing range, the upside potential targets a move of 257%, as shown in the projection box on the chart.
The price could potentially rise to the 0.06 zone, aligning with historical price resistance levels.
3️⃣ Key Resistance Levels:
Immediate Resistance: 0.019 (breakout retest area).
Major Target Zone: 0.061.
Trade Plan:
✅ Entry: Look for a retest of the breakout zone around 0.017 - 0.019 for confirmation.
✅ Stop-Loss: Place stops below the descending trendline 0.015
✅ Take Profit: Gradually scale out at 0.045 and 0.06.
Macro Context 🌏
With positive sentiment building across the crypto markets, SUI could see significant upside compared to other layer 1s like SOL, particularly if it sustains above the breakout zone.
