$SUI on the rampage

Source: TradingView

The $SUI price (SUI/USD) rampaged as much as 170% to the upside during the month of September, and this at a time when other cryptocurrencies made far less gains, or were relatively flat. After a short corrective movement, which took $SUI to the bottom of the wedge, the price rose nearly 11% over the last week.

The short term price chart above shows the upward movement during September. If the price can maintain momentum, a breakout of the top of the wedge could be possible, which would be extremely bullish.

$SUI must attain a higher high

Source: TradingView

In the weekly time frame, the $SUI price action looks very good. It just remains for $SUI to make a higher high than $2.17, which would confirm the upward trend.

However, there is one potential obstacle on the horizon, which is the weekly Stochastic RSI. This is showing that price momentum has topped. That said, the last time this was the case, the Stochastic RSI indicators remained at the top, and price momentum did continue.

If $SUI does maintain its upward price direction, a target of $3.24 at the 1.618 Fibonacci is very possible - a more than 50% gain from here.