A month ago (August 13, see chart below) we gave the first bullish break-out signal on Sui (SUIUSD), as the price broke above its Lower Highs trend-line:
As you can see, it re-tested the trend-line to confirm it as a Support and, as expected, it held giving way to a break above the 1D MA200 (orange trend-line) on Sunday. That is the second and final bullish break-out signal.
As per our original analysis, our Target remains $2.700, marginally below the 1.236 Fibonacci extension, as it happened with the March 27 2024 High. A Channel Up to guide the price there is the most likely pattern to emerge. Watch also for a potential 1D Golden Cross by the first week of October.
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