There is a potential bullish signal for SUI as technical indicators suggest a possible upward momentum. Currently trading at $2.3 at the time of writing, SUI appears to be forming a falling wedge pattern that typically precedes significant price movements.
Rose Premium Signals, a prominent crypto analyst with more than 75k followers on X, has shared their technical analysis, suggesting an optimistic outlook for SUI price if it breaks through its current resistance level. The analysis points to several technical factors that could drive what they describe as a “strong bullish rally” for the token.
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SUI Technical Pattern Analysis
According to Rose Premium Signals, SUI is currently forming a falling wedge pattern near a substantial support zone, which coincides with the 0.618-0.786 Fibonacci retracement area. This pattern is typically considered bullish when it appears after a downtrend, as is the case with SUI following its decline from early January 2025.
The daily chart shows SUI making lower highs and lower lows within this pattern, but with multiple rejections from the bottom of the wedge. These rejections strongly indicate potential accumulation by buyers at these levels, suggesting growing confidence in SUI’s value proposition at current prices.
The falling wedge has been developing after a significant downtrend, and the price has been compressing within the pattern. Technical analysts like Rose Premium Signals view this compression as potential energy for an upward breakout, especially when accompanied by declining volume and strong support levels.
Read Also: Here’s How High SUI Price Can Spike in 2025
Entry Strategy and Price Targets for SUI
Rose Premium Signals recommends an entry zone between $2.00 and $1.80 for those looking to open long positions. With SUI currently trading at $2.3, SUI price is hovering just above this suggested entry zone, potentially offering a favorable risk-to-reward setup.
If SUI breaks above the descending resistance line of the wedge, Rose Premium Signals predicts a “strong bullish rally” that could propel the price toward three defined targets:
- First target: $3.92, positioned just above the wedge’s upper boundary
- Second target: $4.65, near the 0.5 Fibonacci retracement level of the entire downward movement
- Third target: $5.60, which represents a major resistance level from previous price action
For risk management, the analyst suggests placing a stop loss at $1.60, which falls below both the wedge pattern and the Fibonacci support box. A price movement below this level would likely invalidate the bullish scenario.
Read Also: Here’s Why the Price of Kaspa (KAS) Isn’t Pumping
Key SUI Support Levels and Potential Challenges
The current support zone aligns with critical Fibonacci retracement levels, calculated from the swing low of October 2024 to the swing high of January 2025. These Fibonacci levels often mark important accumulation zones before SUI price reversals.
Before reaching the projected targets, SUI would need to overcome the immediate resistance in the $2.60-$2.80 range, which represents the upper boundary of the wedge pattern. As noted by Rose Premium Signals, a successful breakthrough of this region would significantly strengthen the bullish case and potentially attract momentum traders looking to capitalize on the reversal.
However, traders should remain cautious as external market factors, including Bitcoin’s price movements and broader market news, could significantly influence SUI price trajectory regardless of the technical setup. If SUI fails to maintain support and drops below $1.60, it would likely signal continued weakness and invalidate the bullish pattern identified by Rose Premium Signals.
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