SUI Prepares to Test $3.5 Resistance Amid Price Breakout Signals

Analyst Ted Pillows predicts a potential price breakout for Sui (SUI) despite a 17.18% decline over the past month. He identifies a bullish pattern that may indicate market recovery.

SUI Price Action and Analysis

SUI recently rebounded from $2.8-$3.0 after a sustained downtrend.
A descending wedge pattern suggests weakening bearish pressure, indicating a possible reversal.
SUI must surpass resistance at $3.5 to initiate a market rally.
A daily close above $3.5 could trigger significant buying pressure, potentially leading to new highs.
Initial price targets are set at $4.00, with a possibility of reaching $5.21, representing a 60.8% gain.

SUI Current Performance

SUI is trading at $3.23, showing a 2.33% gain in the last day, but still faces weekly and monthly losses of 1.01% and 17.10%. Over the past year, SUI has increased by 211.11%, positioning it as a strong performer within the current market cycle.