Can $SUI reach 10 dollars?
Sui has recently shown impressive growth, turning several key resistance levels into support levels.
It has also invalidated a small double top pattern, which is often a bearish reversal signal. It is approximately 58% above its 50-day moving average and 95% above its 100-day exponential moving average.
Notably, the Average Directional Index (ADX) is moving towards the 38 mark, indicating strong momentum for the token.
Additionally, the Stochastic Oscillator and Relative Strength Index have risen to overbought conditions. In the long term, SUI's price may further increase, potentially rebounding to the 10 dollar mark, representing a 170% rise from current levels.
This scenario will only materialize if SUI's price breaks through the critical level of 5 dollars.
The trend towards the 10 dollar mark will not be linear; there may be a risk of decline.
In this case, the SUI token could drop to 2.35 dollars and then regain its bullish trend, meaning a breakout and retest.
A drop below the 2.17 dollar mark could invalidate the breakout and retest, potentially signaling a trend towards 1 dollar.
