$SUI Price Smashes Through $1, Bulls Target $1.55 - CoinPedia Analytics

With a market cap of $2.713 billion, SUI ranks among the top 30 cryptocurrencies. Currently, it has reclaimed the psychological mark of $1 and is trading with a 14.48% jump in the past 24 hours. With the recovery rally in motion, the past seven days for SUI price have been profitable, with a surge of 26.17%. 

As per our technical analysis, the Logarithmic daily chart reveals a bullish cycle from the 23.60% Fibonacci level. The recovery run gains momentum as the retest of the falling channel breakout reveals massive demand at lower levels. 

The bull cycle is now accounting for a price jump of 36.25% in the last ten days. With this, the SUI price is now challenging the crucial resistance of 50% Fibonacci level at $1.0541. 

With a bullish engulfing candle of 11.4% intraday jump completing a morning star pattern, the sentiments are improving. Hence, the chances of a bullish breakout rally in SUI prices are significantly increasing. In the near term, before SUI reaches BMOON’s expected $3.65 target, the near-term resistances are at 61.80% and 78.60% levels at $1.23 and $1.55, respectively.