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<p>SUI has been trading below a critical level at $2.3 since it last got there in mid-October. Now that the price is below this level again, crypto analyst, parabolic8crypto, has expressed a bullish outlook for $SUI, suggesting that the cryptocurrency could see significant gains if it breaks above the next resistance level.</p> 
<p>In his analysis, the crypto analyst breaks down the<a href="https://www.investopedia.com/terms/c/cupandhandle.asp#:~:text=A%20cup%20and%20handle%20is,spot%20opportunities%20to%20go%20long." target="_blank"> Cup and Handle pattern</a>, noting that it features a rounded “cup” formation. This indicates a phase of accumulation or consolidation, which is followed by a smaller “handle” that reflects a minor pullback. </p> 
<p><a href="https://x.com/paraboli8crypto/status/1854331223902159221" target="_blank" rel="nofollow">According to the analyst,</a> this setup typically signals a bullish continuation, implying that once the price surmounts the handle, a rally could ensue.</p> 
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/this-trader-expects-cardanos-ada-price-to-rally-70/" target="_blank">This Trader ‘Expects’ Cardano’s ADA Price to Rally 70%</a></em></strong></p> 
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<p>The analyst elaborates on the concept of the measured move within this pattern. He explains that this measure involves projecting the height of the cup upward from the breakout point. </p> 
<p>The chart includes a vertical line that marks the distance from the bottom of the cup to the neckline, which represents the resistance level at the top of the cup. His projection indicates a target price of around $10, aligning with his assertion that if the breakout occurs, $SUI could indeed reach this level.</p> 
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/why-polkadot-dot-may-never-return-to-top-10-cryptos-despite-upcoming-upgrades/" target="_blank">Why Polkadot (DOT) May Never Return to Top 10 Cryptos Despite Upcoming Upgrades</a></em></strong></p> 
<p>Furthermore, the crypto analyst points out the potential percentage gains from this movement. Reaching $10 would equate to an approximate gain of 381%, mirroring the height of the cup structure in percentage terms.</p> 
<p>For the Cup and Handle pattern to fulfill its potential, the analyst stresses the importance of a confirmed breakout above the handle resistance level, currently around $2.3. He notes that a daily close above this level would signal the initiation of an upward trend.</p> 
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<p>The post <a href="https://captainaltcoin.com/this-chart-pattern-will-take-sui-price-to-10-analyst-predicts/">This Chart Pattern Will Take SUI Price to $10, Analyst Predicts</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

This Chart Pattern Will Take SUI Price to $10, Analyst Predicts

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