Sui ($SUI ) is capturing attention as crypto analyst Alex Clay identifies a bullish trend, pointing to a potential price rally. According to Clay, SUI has successfully retested a critical neckline, suggesting this may be the start of an upward trend. Here’s why $SUI
might be one to watch:
🚀 Key Technical Pattern: Cup and Handle Formation
The $SUI chart reveals a Cup and Handle pattern, a bullish continuation signal. This formation, featuring a rounded “cup” followed by a brief consolidation in the “handle,” often hints at an impending breakout. SUI recently surpassed its $1.98 neckline, with a successful retest marking a potential lift-off.
🎯 Price Targets:
1. Initial Target: $6.90 — Based on the height of the handle, this is an achievable short-term level if the trend holds.
2. Long-Term Target: $9.60 — The full formation height points to $9.60 as a possible peak, contingent on sustained momentum.
💡 What This Means for SUI Traders:
$1.98 Support Zone: SUI’s successful retest of this support level strengthens the bullish outlook, marking it as a key area for buyers.
Increasing Net Inflows: With heightened investor interest, SUI shows promise for sustained demand.
Could SUI reach its ambitious targets of $6.90 and $9.60? Time will tell, but the bullish setup has traders optimistic.
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