- SUI price breaks out of a symmetrical triangle, targeting $4.25 resistance with strong bullish momentum.
- Key support levels for SUI are at $3.57 and $3.75, crucial for maintaining upward momentum.
- A breakout above $4.25 could drive SUI price towards the next target at $5.25, based on Fibonacci extensions.
SUI price has been moving upward since breaking out of a symmetrical triangle pattern in early August. The price has been gaining momentum and now faces a key resistance level at $4.25. With increasing bullish pressure, traders are looking at this level closely, as a breakout could signal further price gains.
SUI Price Eyes $4.25 Resistance as Bullish Momentum Grows
SUI price has demonstrated bullish momentum since exiting a symmetrical triangle pattern in early August, as noted by analyst Ali Charts. It had been forming its forged price in the triangle with low highs and high lows.
The breakout resulted in increased buying activity; at this point the price is testing an important resistance at $3.70 that coincides with the 0.618 retracement. This had long acted as a hindrance to further ascent.
Source: Ali Charts/X
Traders are observing to see whether the SUI price can break past this resistance level as it approaches it. A break above 3.70 with strength could see additional advances, and the next significant target is at 4.25, the 1.0 Fibonacci extension. A break above this point would affirm the extension of the bullish action passed by the symmetrical triangle break, possibly thrusting the price higher.
In case the SUI price fails to overcome the resistance at $4.00, a pullback might take place, and crucial support levels lie at $3.76 and the 0.618 Fibonacci retracement at approximately 3.57.
Support will also be critical using the lower trendline around the $3.75 price. According to analyst CryptoGoos, when these levels break, SUI may fall to test the $3.50 or even $3.00, which will be significant on whether the price will climb higher or will reverse.
Source: CryptoGoos/X
Confirmation of the bullish trend will be based on volume analysis. The August breakout meant a fairly strong rise in price, which is a sign of intense buying. As long as the volume increases with SUI approaching the price band of $4.00.
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