SUI price pumped by 333% over the last month alone.
The asset now nears its previous ATH and faces major resistance.
Analyst expects SUI to breakthrough and set new ATH targets like $4.
Bitcoin’s surge beyond $63,000 has led to a great start for week two in October as the BTC price movement flipped the month to green hinting at a major surge for the crypto market and the start of Uptober. Many analysts are pleased to see BTC and many altcoin like SUI to already setting green signals and heading towards previous ATH targets.
Analyst Draws Light to SUI’s Unstoppable Momentum
In particular for SUI, one analyst goes on to highlight how its price momentum is gaining attention, with targets of $3 in the next 7-10 days and potentially $4 by the end of October. The bullish trend for SUI began in early September when the altcoin found support around $0.80.
https://twitter.com/SaroshQ2022/status/1843181867391946826
Since then, SUI has consistently broken through resistance levels, building higher highs and higher lows, which are classic signs of strengthening momentum. Adding on, the analyst draws light to a critical moment that occurred in mid-September when SUI surpassed $1.20 and broke through the 200-day Simple Moving Average (SMA) at $1.09, indicating a shift in trend as buyers began dominating the market.
Reveals Major Trend Targets and ATHs for SUI
Furthermore, he states that SUI has since maintained a solid uptrend, even in the face of selling pressure. Recently, SUI hit a significant resistance trend line dating back to February, which could be a key turning point. If it manages to close above this level consistently, the stage is set for a substantial rally.
According to this analyst, the next major target for SUI is set at $2.20, which, if broken, could lead to a quick move to $3. The continued strength of SUI, despite challenging macroeconomic conditions, geopolitical tensions, and token unlocks that typically increase selling pressure, suggests that many traders are accumulating the token in anticipation of further gains.
All in all, SUI's recent price action is pointing to a bullish future. If it can break above the long-term resistance, a move toward $3 and possibly $4 by early November seems likely, setting the token up for potentially exciting moves ahead. Keep an eye on this momentum, as it could signal significant growth in the coming weeks.
The post SUI’s 333% Pump Is Just the Beginning, Analyst Reveals Bullish ATH Targets for the Popular Altcoin appeared first on Crypto News Land.
