Sui Surges 1.86% to $4.09, Eyes $5 Target
1min read Sui (SUI) has recently demonstrated renewed bullish momentum, surpassing key resistance levels and showing promising technical indicators that suggest a potential continuation rally. The daily and hourly charts both indicate a well-structured uptrend, with investors setting their sights on the next major psychological barrier at $5.
Ask Aime: "Sui's recent bullish momentum suggests a potential continuation rally, with technical indicators signaling a well-structured uptrend. Investors are eyeing the next major psychological barrier at $5. Should I buy Sui now?"
The daily chart illustrates a robust bullish recovery from April lows near $1.80. After a period of consolidation and sideways movement, sui has broken above the 50-day and 100-day moving averages. Currently, it is trading above all major simple moving averages (20, 50, 100, 200), with the 20-day SMA crossing above the 50-day SMA, a classic bullish crossover. The price is hovering around $4.09, up nearly 1.86% for the day, and has surpassed previous resistance near $3.50–$3.80.
Additionally, the Accumulation/Distribution Line (ADL) shows a positive slope, indicating growing buying pressure. The recent surge in SUI's price is not merely speculative; it is supported by strong volume and accumulation, which bolsters the validity of the breakout.
On the hourly chart, the momentum appears equally robust. After retesting the $3.80 zone multiple times, the SUI price launched a strong rally, reaching an intraday high above $4.20 before slightly pulling back. The moving averages are aligned for a short-term rally, with the 20, 50, 100, and 200 SMAs stacked bullishly. Despite a minor cooldown at press time, SUI is still trading above the 20-SMA on the 1-hour chart, signaling a healthy trend.
Volume spikes on upward candles and a flat ADL during dips suggest that short-term dips are being bought aggressively. This setup increases the likelihood of another leg up if SUI holds above $3.95.
Given the current technical structure and momentum, $5 is the next logical resistance target. The psychological round number, combined with the high from early January, makes it an attractive level for both swing traders and profit-bookers. If the bulls maintain control and the SUI price stays above $4.00, there could be an impulsive move toward $4.60 first, followed by a potential breakout to $5.
On the downside, $3.80 acts as a crucial support level. A breakdown below this level could trigger a retest of the 50-day SMA near $3.30.
In summary, the SUI price is no longer in accumulation; it is in breakout mode. With strong support from moving averages, increasing accumulation, and a positive short-term structure, the momentum favors the bulls. If macro market conditions remain neutral to positive, SUI could very well test the $5 mark in the coming days.
