Crypto analyst Gnojek shared on X that SUI’s price is “on its way to ~$5.00 🚀” as it approaches key resistance levels. The statement is supported by a detailed analysis of the SUI chart, which reveals bullish trends, strong support levels, and Fibonacci-based price targets. Here’s a closer look at the technical aspects signaling a potential surge.
What you'll learn 👉
SUI Chart Analysis: Strong Bullish Momentum and Breakout
SUI has demonstrated a substantial upward trend, breaking out from a prior downtrend marked by a diagonal resistance line. The price shot up along with lots of people buying. Right now it’s trading around $3.81, pushing past the previous resistance level at the 1.618 Fibonacci extension mark.
The SUI price keeps climbing steadily, taking small breaks along the way. This usually means the upward trend will keep going, according to market watchers.
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Moreover, the SUI chart incorporates Fibonacci retracement and extension levels, which provide key insights into potential price movements. During its rally, SUI’s price broke through the 1.618 Fibonacci extension level at $3.22. The next target, aligned with the 2.618 extension level, points to $5.00, as highlighted by the analyst’s tweet.
Support zones have also been well-defined, with the $1.68–$2.00 range coinciding with the 0.618–0.786 retracement levels. This zone provided a strong foundation during the token’s recent consolidation, supporting its recovery and subsequent upward movement.
Key Resistance Levels to Watch
While SUI continues to gain traction, resistance levels play a crucial role in determining the rally’s trajectory. The 1.618 extension level, now acting as support, is critical for maintaining bullish momentum. If this level holds, the token is likely to test the 2.618 level near $5.00, aligning with the bullish projection shared on social media.
Gnojek’s tweet underscores the bullish outlook, highlighting confidence in SUI’s path toward $5.00. The use of Fibonacci-based targets and the accompanying chart analysis provide further evidence supporting this projection. As SUI’s price continues its upward trend, market participants remain focused on key levels to gauge its next move.
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