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SUI/USDT Analysis: Predicting Breakout and Surge!
From Prediction to Reality: In the first chart, I highlighted a potential bullish breakout based on SUI’s price action. The market was consolidating near a key resistance area, building pressure for a breakout. As predicted, SUI/USDT experienced a strong uptrend, delivering an impressive gain in line with our prediction. Let’s analyze it!
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Initial forecast (first chart):
Identified resistance areas:
As shown in the first chart, the price has been hovering around the $1.78 to $1.85 resistance zone. We see that SUI is consolidating in a clear downtrend, which is a bearish reversal pattern. If it does not break the support level, it is a W bottom high.
Bullish Momentum:
With the strong upside push and channel breakout, bulls are in control, suggesting higher prices are likely as momentum starts to build.
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The Pump (second chart):
Price Action Confirmation:
As expected, SUI pulled back to the critical support and resistance zone of $1.78 $1.85 $1.85, confirming the strength of the uptrend. The price surged more than 27.8% to hit a new high of $2.368 $2.368. This move not only validated the earlier bullish predictions but also set new targets for the coming days.
High volume:
The surge was accompanied by a surge in trading volumes, indicating strong participation from both retail and institutional investors. The surge in trading volumes supports the view that there is momentum behind the breakout and bulls are likely to hold onto these gains in the near term.
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Technology Outlook:
New Resistance Zone:
With the recent gains, SUI now faces another important resistance level around $2.30. This area is crucial as it represents the next major hurdle for the bulls. If SUI can break out and sustain above this level, it could open up further upside potential to $2.50 or higher.
Support Level:
On the downside, the previously broken resistance level of $1.95-$2.00 should now act as a strong support zone. If the price retraces, this area could provide a good opportunity for buyers to step in again and create a solid foundation for another upward move.
What are the key takeaways and next steps?
1. Predict success:
The breakout of the descending channel and above the key resistance area turned out exactly as expected and provided a strong boost to SUI holders. This move highlights the importance of understanding the market structure and technical setup.
2. Potential for further profit:
The bullish momentum is strong and if SUI continues to hold the $2.18 resistance, the next price target is around $2.38. Beyond that, if the rally continues, we might see further price gains to $2.50 or higher in the medium term.
3. Drawdown risk:
While the trend remains bullish, traders should watch out for potential pullbacks. A pullback to the $1.95 support area is possible, especially if buying volume slows down. However, this area could be a good re-entry point for those looking to ride the next upward wave.
In the end, there are many things that were not written down, such as specific opportunities and specific decisions. These things cannot be summarized in one article.
