bullish

Strong

Show

Resistance

<p>SUI price is trading at $2.03 today with a 9.99% price surge in the last 24 hours. The Sui Network is outperforming many other Layer 1 blockchains.</p> 
<p>The rally comes as SUI shows high inflows and bullish trends as analysts are expecting a breakout due to a technical triangle pattern forming on the charts.</p> 
<h2 class="wp-block-heading" id="h-sui-price-rises-near-resistance-levels"><strong>SUI Price Rises Near Resistance Levels</strong></h2> 
<p>Currently, SUI is trading well above its 20-day SMA at $1.96, which reveals strong buying pressure at the moment.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="599" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1-1024x599.png" alt="1-day SUI trading chart | Source: TradingView" class="wp-image-812685" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1-1024x599.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1-300x176.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1-768x450.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1-150x88.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1-696x407.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1-1068x625.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-13-1.png 1341w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  1-day SUI trading chart | Source: TradingView
 </figcaption>
</figure> 
<p>SUI may encounter&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/04/sui-price-prediction-will-sui-reach-new-all-time-highs-next-week/">selling pressure</a>&nbsp;at the $2.19, the upper Bollinger Band level if support for the price increase fails to build up. Regardless of the approach to resistance, the current trend is expected to remain positive.</p> 
<p>The Relative Strength Index (RSI) for SUI is at 55.04, which implies that there is a positive outlook and still has potential for further upside before reaching overbought territory.</p> 
<p>If the RSI rises above 70 it could signal a short-term peak or correction. However, slight pullbacks from these levels would confirm strong bullish trend continuation.</p> 
<h2 class="wp-block-heading" id="h-technical-indicators-show-breakout-potential"><strong>Technical Indicators Show Breakout Potential</strong></h2> 
<p>Based on oct_trades’ analyst chart, SUI chart forms a triangle on the daily chart and usually it forms when there is a consolidation before a breakout can occur.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SUI</a> BACK ABOVE $2 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/SuiNetwork?ref_src=twsrc%5Etfw">@SuiNetwork</a> has been outperforming top Layer1s recently.<br><br>Not only in terms of inflows but in the price as well.<br><br>With the current triangle formation, there is going to be a breakout.<br><br>We already saw something similar in the previous run as you can compare… <a href="https://t.co/kHj648Nbfz">pic.twitter.com/kHj648Nbfz</a></p>— OCT Trades (@oct_trades) <a href="https://twitter.com/oct_trades/status/1853812216421642381?ref_src=twsrc%5Etfw">November 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The pattern has a higher low and lower high that reflect the tighter range and the building of pressure for a directional movement.</p> 
<p>Furthermore, Oct_trades claimed that such a structure looks like SUI’s previous rallies suggesting an upside continuation if resistance breaks through. “With the current triangle formation, there is going to be a breakout,”oct_trades wrote.</p> 
<h2 class="wp-block-heading" id="h-community-sees-strong-network-growth-and-price-potential"><strong>Community Sees Strong Network Growth and Price Potential</strong></h2> 
<p>SUI’s price movements and activity have garnered some attention from the crypto community, here mainly pointing out the symmetrical triangle and the key support levels.</p> 
<p>Some investors believe that a breakthrough is possible at the present stage of the development of SUI, as evidenced by the growing popularity of the platform and community.</p> 
<p>“Feeling confident and well-positioned in SUI as it shapes up within this symmetrical triangle!” one user wrote. “Strong support plus that potential breakout has my eyes on $1.97, $2.11, and $2.35 targets.”</p> 
<p>This makes SUI stand out from other altcoins as it continues to gain strength and record increased inflows in the market. Furthermore, it has placed SUI as a leading Layer 1 blockchain where investors are looking forward to its growth.</p> 
<p>As the community anticipates a breakout and continues to accumulate, the coming days will be key in determining SUI’s next move.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/06/sui-price-rallies-to-2-03-with-breakout-potential-whats-next/">SUI Price Rallies to $2.03 with Breakout Potential: What’s Next</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

SUI Price Rallies to $2.03 with Breakout Potential: What’s Next

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