BeLaunch Analyzes SUI’s Potential Breakout Amid Recovery Signs

BeLaunch has analyzed SUI's potential to reach $20 in the next bull cycle, following a recovery from the October 10 flash crash. The analysis presents two scenarios:

Primary Scenario (8/10 probability): SUI is testing a crucial breakout above resistance levels. Completion of Wave (2) suggests an impulsive Wave (3) may follow, potentially leading to new highs.
Alternative Scenario (3/10 probability): Current price structure might remain corrective, with SUI possibly forming an X wave near $5.37 before another corrective phase.

Technical and on-chain data indicate early signs of recovery for SUI, despite broader market focus elsewhere:

Total Value Locked (TVL) holds around $1.4 billion; surpassing $2 billion could signal stronger momentum.
Daily Active Users (DAU) are rising, currently near 900,000.

SUI's historical patterns suggest rallies within two to four weeks after TVL and DAU metrics improve, indicating a possible current accumulation phase. This aligns with technical and on-chain setups, which appear robust. If trends continue, SUI might exit consolidation and enter a bullish phase.