SUI has shown strong signs of recovery, prompting analysts to adjust their price targets. CryptoBullet, a top market analyst, raised his target for SUI, citing key technical indicators that suggest a bullish reversal.
His recent tweet highlighted a price rebound, supported by a bullish hammer candle and major moving averages acting as support. The spike in trading volume further confirmed buying interest, setting the stage for a potential uptrend. Despite recent corrections, SUI appears poised for higher price levels if critical resistance is cleared.
Monster recovery on $SUI !
— CryptoBullet (@CryptoBullet1) February 3, 2025
Gorgeous Bullish Hammer candle with a long wick. Finally hit the EMA200 & SMA200 ✅
All the liquidity that’s been building since November is grabbed. And look at that Volume! Wow 👀
Based on this correction, I’m raising my target for #SUI
🎯 TARGET… pic.twitter.com/R3ng97UzLb
What you'll learn 👉
SUI’s Bullish Hammer Signals Reversal
CryptoBullet’s analysis pointed to a bullish hammer candle forming at a key support level. This pattern, characterized by a long lower wick and a close near the high, signals strong buying pressure.
The reversal occurred after SUI tested the EMA200 and the SMA200, both of which are key support levels. Historically, a bounce from these moving averages suggests renewed bullish momentum.
The alignment of EMA200 and SMA200 as support levels adds weight to the recovery thesis. Institutional traders often use these indicators to gauge long-term trends. CryptoBullet noted that the liquidity grab beneath support levels likely shook out weak hands before the reversal.
Additionally, the spike in trading volume suggests that the move is backed by genuine buying activity rather than short-covering. Volume confirmation is crucial in validating a trend reversal, and SUI’s recent surge strengthens the case for continued upside.
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Fibonacci Levels and SUI Price Targets
Technical indicators suggest that SUI faces short-term resistance near the $4.00 level, corresponding with the 0.618 Fibonacci retracement. A successful surge above this level might open the door for elevated price targets. According to CoinGecko, SUI trades at about $3.38 at publication, an increase of 11.71% over the previous day.
The Fibonacci extension (1.618 level) corresponds with CryptoBullet’s updated target of $8.90. Analysts frequently utilize Fibonacci tools to forecast possible price shifts, and in this instance, the indicators endorse an upward trend.
SUI’s pricing pattern indicates a possible revisiting of the $3.20–$3.40 range prior to additional increases. A surge past $4.00 might validate the turnaround, with the subsequent aim near $5.00.
If the bullish momentum continues, the target of $8.90 is still attainable in the medium term. While short-term volatility is expected, technical confluence favors further upside, reinforcing CryptoBullet’s revised outlook.
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