Sui Network [SUI] continues to showcase a robust long-term bullish outlook, even as the broader cryptocurrency market experiences turbulence. Despite Bitcoin’s [BTC] 4.8% dip in the last 24 hours, which triggered an 8.6% pullback for SUI, the token remains positioned for significant growth.
SUI’s Meteoric Rise Since September
Since breaking out in September, SUI has rallied nearly 500% in less than four months, cementing its status as one of the most impressive performers in the crypto space. The bullish trajectory has been marked by a series of higher highs and higher lows on the daily chart, with SUI consistently consolidating above key support levels.
The initial breakout from the $0.9-$1 resistance zone, followed by a successful retest as support, signaled the beginning of its sustained uptrend.
Technical Indicators Signal Further Gains
SUI’s recent dip in buying volume suggests bulls may be gathering momentum for another surge. The Average Directional Index (A/D) indicator reflects a slowdown in accumulation, but the Ichimoku Cloud remains decisively bullish, offering strong support between $3.2 and $4.1.
With the 23.6% Fibonacci extension level acting as short-term support, analysts predict SUI’s next target is more likely to exceed $5.38 than fall below $3.5. The thick Ichimoku Cloud further emphasizes the token’s strong upward momentum.
Short-Term Range and Key Levels
In the past two weeks, SUI’s price has ranged between $4.3 and $5. This range has created a liquidity buildup, particularly around these levels. The Fibonacci extension at $4.5, previously a resistance point, has flipped into a demand zone, reinforcing SUI’s bullish case.
While Bitcoin’s recent price dip has temporarily slowed SUI’s upward movement, this consolidation phase could lay the groundwork for another breakout. The token’s technical setup and historical performance suggest that SUI could soon challenge the $5 mark and beyond.
Outlook for Investors
For traders and investors, the current dip in SUI prices could represent an opportunity to enter before the next bullish impulse. With strong technical support and a history of resilience, Sui Network remains a token to watch in the coming weeks.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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