Crypto Analyst Sees Bullish Setup for SUI Trading at $3.61
Crypto analyst Crypto Master 786 forecasts a bullish potential for SUI, currently priced at $3.61. Key points of the analysis include:
- SUI is within a bullish re-accumulation zone supported by a Bullish Price Range and significant Order Block.
- The chart indicates targets aligned with the 0.5 and 0.25 Fibonacci levels for possible upward movement.
- A Market Structure Shift observed in April marks a bullish reversal.
- Institutional accumulation suggested through Smart Money Concepts, indicating strategic buying at key prices.
- Fibonacci Confluence aligns upward targets with historical supply zones.
- Recent pullbacks on low volume indicate healthy market behavior instead of bearish exhaustion.
Fundamentally, SUI benefits from:
- Being a high-performance Layer 1 blockchain by Mysten Labs, known for scalability, speed, and low fees.
- Strong backing from top investors like a16z, Jump Crypto, and Binance Labs, showing institutional confidence.
- Rapid growth in its developer ecosystem with increasing DeFi, gaming, and NFT projects.
- SUI Builder Grant Program supporting innovation and development on the platform.
Crypto Master 786 suggests that if SUI maintains its current Order Block/Bullish Price Range zone, it has a high probability of a swing play with a 37% upside potential.
