Sui (SUI) has seen renewed attention as trader Alex Clay highlights a bullish outlook for the crypto. In a tweet, Clay noted SUI’s retest of the neckline from a Cup and Handle formation, indicating a possible upward trend.
With this retest suggesting stability, Clay projects ambitious price targets for Sui. Meanwhile, reports suggest that SUI has led in net inflows, reflecting heightened investor interest.
What you'll learn 👉
Bullish Pattern for SUI: Cup and Handle Formation
The SUI chart reveals a classic Cup and Handle pattern, widely recognized as a bullish continuation signal. In this setup, a rounded bottom forms the “cup,” while a consolidation phase forms the “handle.”
Such a formation often indicates an impending breakout, suggesting that bullish momentum is building. SUI recently broke above its $1.98 neckline, with a successful retest marking the start of its upward journey.
The breakout’s validation lies in the completed retest of the $1.98 neckline, where SUI’s price established support, strengthening its bullish potential.
According to Clay’s analysis, this successful retest enhances confidence in the upward trend, as support levels often solidify buyer interest, potentially driving the price toward higher targets.
Price Targets and Potential Gains
Alex Clay’s tweet details two major price targets based on the Cup and Handle formation. The initial target, set at $6.90, reflects the height of the handle, suggesting this level as an attainable short-term goal for SUI traders.
The full formation height points toward a potential price of $9.60, marking a longer-term upside if SUI price sustains its momentum. These targets are marked on Clay’s chart with clear indicators, helping traders identify potential profit-taking levels.
The successful retest has positioned $1.98 as a solid support zone, essential for a sustained upward movement. The continued bullish trend will likely attract interest from both existing and new investors, eyeing the target zones.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Read also: Can Kaspa (KAS) Still Reach $10 This Bull Run?
Investor Sentiment and Market Momentum
In addition to the bullish setup, the sentiment around SUI remains notably strong. Clay’s use of “FULL SEND” in his tweet conveys confidence, a sentiment shared by many in the community as SUI leads net inflows.
A report from Cointelegraph shows SUI at the top of inflow rankings with $24.6 million, underscoring growing investor interest in SUI amid broader market shifts.
This influx, surpassing that of larger assets like Ethereum and Solana, points to increased buying interest following the breakout. As volume increases, SUI may gain traction, enhancing its chances of reaching these ambitious price targets.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
