bullish

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<p>Sui (SUI) appears to be on a bullish path as it rallies above key support levels. Analysis from Coinpedia Market on TradingView <a href="https://www.tradingview.com/chart/SUIUSD/G87bbJik-Will-SUI-price-hit-3/" target="_blank" rel="noopener noreferrer nofollow">highlights a breakout</a> from a falling channel, fueling positive momentum for SUI.&nbsp;</p>
<p>With its price finding stability around key technical markers and indicators, the altcoin shows potential to exceed $3. Moreover, his analysis follows notable trading activity on the Sui Network.</p>
<h2 class="wp-block-heading" id="strong-breakout-from-falling-channel-signals-bullish-rally-strong"><strong>Breakout from Falling Channel Signals Bullish Rally</strong></h2>
<p>Sui’s breakout from a descending channel pattern has set the stage for a bullish run. This rally is supported by the <a href="https://www.coingecko.com/en/coins/sui" target="_blank" rel="noopener noreferrer nofollow">token’s position</a> above its 50-day EMA and a new ascending trendline, which serve as stable support points.&nbsp;</p>
<p>Analysts at Coinpedia observe that this upward momentum aligns with SUI’s formation of a Morning Star pattern, marked by a 16.82% price increase. This pattern often indicates a continued bullish trend, and in this case, suggests further gains could be on the horizon.</p>
<p>The breakout also coincides with SUI’s challenging of key Fibonacci levels, specifically the 100% level. If momentum holds, targets at $3 (1.272 Fibonacci level) and potentially $4.80 (1.618 Fibonacci level) may be achievable, indicating a promising outlook.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="390" src="https://captainaltcoin.com/wp-content/uploads/2024/10/c-1024x390.png" alt="" class="wp-image-575978" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/c-1024x390.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-300x114.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-767x292.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-1536x585.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-2048x780.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-394x150.png 394w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-100x38.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-919x350.png 919w, https://captainaltcoin.com/wp-content/uploads/2024/10/c-788x300.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/c.png 1305w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Source: TradingView</em></strong>
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="strong-indicators-show-positive-momentum-strong"><strong>Indicators Show Positive Momentum</strong></h2>
<p>The RSI provides additional support for Sui’s bullish scenario, as it climbs above its 14-day SMA, approaching the overbought zone. This upward trend in RSI signals strengthened buying interest.&nbsp;</p>
<p>In parallel, a surge in trading volume underscores the heightened demand for SUI tokens, further boosting the token’s trajectory.</p>
<p>Sui also exhibits a rounding bottom reversal pattern, adding to the evidence of a sustained bullish sentiment. This structural reversal, combined with a positive alignment of daily EMAs (50, 100, and 200), supports the <a href="https://www.tradingview.com/news/newsbtc:fc4b543e3094b:0-can-sui-reach-2-18-bullish-pressure-builds-toward-key-milestone/" target="_blank" rel="noopener noreferrer nofollow">upward price trend.</a></p>
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<p><strong><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/heres-why-whales-are-manipulating-kaspa-kas-price/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Here’s Why Whales Are Manipulating Kaspa (KAS) Price</em></strong></a>&nbsp;</strong></p>
<h2 class="wp-block-heading" id="strong-overcoming-psychological-resistance-at-2-strong"><strong>Overcoming Psychological Resistance at $2</strong></h2>
<p>Sui has recently battled to stay above the psychological $2 level, a critical milestone for its progression toward higher targets. A hold above this level may pave the way for extended gains, as maintaining support here would validate the strength of the current uptrend.</p>
<p>In a bearish scenario, however, pullbacks could find support at $1.85, aligning with the rising trendline and 50-day EMA at $1.7303. These levels would act as potential stabilizers in case of <a href="https://beincrypto.com/sui-open-interest-rises/" target="_blank" rel="noopener noreferrer nofollow">downward pressure</a>, offering areas for buyers to re-enter the market.</p>
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<p>The post <a href="https://captainaltcoin.com/sui-price-could-rise-past-3-heres-why/" rel="noopener noreferrer nofollow">SUI Price Could Rise Past $3: Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

SUI Price Could Rise Past $3: Here’s Why

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