Tyler Hill Investing, a YouTube channel with over 106k subscribers, has shared some insights about SUI following a 17% price increase over the past day. 

The analyst attributes this rally to strong market structures, including Fibonacci support and macro backtests, which indicate bullish potential. This surge aligns with predictions made in prior analyses and raises questions about whether SUI’s price can achieve $4.70 soon.

Tyler Hill stated that the $3.7 resistance level plays a key role in determining SUI’s trajectory. Technical patterns such as the “cup and handle” and “Adam and Eve” have emerged as key indicators of a potential breakout. These patterns, coupled with an RSI reset showcasing bullish divergence, suggest upward momentum might be sustained.

The $3.7 to $3.76 range has been identified as a decisive zone for SUI’s price next move. Breaking above this range could propel the token to its next target between $4.25 and $4.70. Analysts have highlighted $3.71 as a critical Fibonacci “golden ratio” level that must hold for sustained upward momentum.

Historical data suggests that breakouts often lead to equidistant movements from prior lows, making daily candle closures above $3.7 vital. Analysts recommend monitoring price action closely and watching for confirmation signals before committing to new positions.

Traders exploring opportunities with SUI are advised to consider low-leverage long positions with tight stop-losses, particularly if the breakout above $3.7 is confirmed. This approach minimizes risk while allowing participation in potential upward trends.

The SUI community has been actively sharing insights through various channels, including Discord groups. These platforms provide access to buy/sell signals, technical and fundamental analysis, and educational resources on topics like Fibonacci and leverage trading.

Read Also: Here’s Why Stacks (STX) Has Been ‘Booming Pretty Strongly’: Expert

Despite the short-term market fluctuations, analysts remain optimistic about SUI’s price long-term potential. SUI’s recent price action suggests that breaking the $3.7 resistance level could open the door to further gains. Staying informed and closely monitoring market developments remain essential for traders and investors navigating SUI’s evolving landscape.

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The post Can SUI Price Skyrocket to $4.70 Soon? Analyst Weighs In  appeared first on CaptainAltcoin.

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