SUI has demonstrated impressive price stability recently. Prominent analyst CW highlighted key factors contributing to SUI’s current market strength. Looking at the charts, SUI seems ready to make a big move—and $6.75 could be where it’s headed.

SUI’s price keeps bouncing between two lines that are getting closer together. The price isn’t hitting those previous high points anymore, and it’s not dipping as low as it used to either.

Right now, SUI is bouncing between these two trend lines. The top line acts like a ceiling – every time the price tries to go up, it hits that ceiling and falls back down. But there’s also a floor that keeps catching the price when it falls.

The market seems stuck in this pattern for now. But since the price was going up strong before this happened, it might continue heading up once it breaks free. If SUI’s price surpasses the resistance level near $4.75 with strong volume, it could rally toward the projected target of $6.75.

Image Source: X/CW Strong Support Levels Reinforce Market Confidence

One of SUI’s key strengths lies in its ability to hold above its previous low, as highlighted by CW. The horizontal support near $4 has been tested multiple times, demonstrating buyers’ willingness to maintain the asset’s value at this level.

This consistent support suggests that SUI has a solid foundation, reducing the risk of significant price declines. The resilience at these levels underpins the optimistic outlook for the token’s next move.

Read Also: Chainlink (LINK) Displays Bullish Pattern as Analyst Predicts Price Targets of Up to $73

Declining Volume Suggests Imminent Breakout

An analysis of SUI’s trading volume shows a steady decline during the formation of the symmetrical triangle. This trend is typical during consolidation phases and is often followed by a sharp increase in volume during a breakout.

Market participants are closely watching for a volume surge, which could confirm a decisive move in either direction. While the prior trend points toward a bullish outcome, traders remain cautious until clear confirmation emerges.

Market Outlook and Future Targets

CW projects a target price of $6.75 for SUI if the current trend persists. The asset’s ability to maintain strong support and form a clear technical pattern strengthens the case for upward movement. However, the final outcome depends on whether SUI’s price breaks above or below the triangle formation.

With SUI’s unique combination of price stability and bullish potential, traders are keeping a close watch on its next move.

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