This SUI Pattern Signals Potential Price Rally to $4: Analyst Prediction

This SUI Pattern Signals Potential Price Rally to $4: Analyst Prediction
фото показано с : captainaltcoin.com

2024-11-9 13:00

According to analyst Crypto Man, SUI is showing promising signs of a bullish move with a well-defined cup-and-handle pattern on its price chart. Crypto Man shared his analysis in a tweet, where he highlighted the structure’s bullish potential and noted the formation of a high-volume bullish candle—a key signal that supports upward momentum. 

This classic pattern, known for signaling potential breakouts, could point to a substantial rise for SUI, with the analyst setting a target price of $4. The cup-and-handle pattern has long been regarded as a bullish indicator in technical analysis. 

In Crypto Man’s SUI chart, the “cup” shows a rounded consolidation phase followed by an initial rise, then a “handle” marked by a minor pullback. This structure suggests a period of strength following consolidation, providing potential entry points if there’s a breakout.

Source: Crypto Man SUI’s Support Levels and Resistance Zone Observations

SUI’s price action displays strong support around $1.50–$1.60, with multiple tests of this level during the handle formation. This support zone is crucial as it indicates buyer interest, providing a foundation for upward moves. 

The resistance level, meanwhile, is located around $2.50. The price has approached this zone severally, and a successful breakout could lead to substantial price gains.

Crypto Man’s analysis also points to a recent bullish candle, which could reduce the likelihood of a deeper correction. As SUI’s price consolidates within the handle, the potential for breakout from the resistance zone grows, as surpassing $2.50 may lead to higher targets.

Read also: Here’s Why Cronos (CRO) Crypto Price Is Pumping

Breakout Potential and Projected Target

Crypto Man’s target of $4 for SUI aligns with projections from the cup-and-handle pattern. This price target is typically derived by measuring the cup’s depth and applying it from the breakout level. The analyst emphasized that a breakout would confirm the bullish structure and likely lead to continued upward momentum.

The tweet noted that while a minor dip may still occur, the overall structure remains intact, with a high probability of upward movement. Crypto Man indicated that any short-term pullbacks could serve as prime buying opportunities before a potential breakout above $2.50.

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 Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
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.

The post This SUI Pattern Signals Potential Price Rally to $4: Analyst Prediction appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

bullish crypto analyst man pattern sui price

bullish crypto → Результатов: 126


Bitcoin is Flipping a “Key Level” as Multiple Bullish Factors Begin Emerging

Bitcoin saw a notable rally today following a prolonged bout of sideways trading, which has so far led the cryptocurrency to rally up towards the $6,000 region. This movement has come about as the traditional markets trade sideways, leading analysts to note that BTC is quickly becoming decorrelated. It now appears that the benchmark crypto...

2020-3-20 19:30


Here’s Why Investors Are Still Much More Bullish on Bitcoin Than Any Other Asset

The last week’s crypto carnage has left many people shattered and fearful. Although not the worst crash in bitcoin’s 11-year history, it was among the top three worst days of bitcoin. The price of the leading cryptocurrency took a fall from about $8,000 to $3,850 following the WHO announcing coronavirus (Covid-19) a pandemic and President […]

2020-3-16 04:15


Analyst 4 Reasons Why Bitcoin Is Looking Extremely Bullish at $9,000

Despite the slight recovery seen over the past few days, analysts still fear that Bitcoin is on a trajectory that will see its price correct even further than it already has. In fact, Related Reading: Crypto Tidbits: India Makes Watershed Ruling On Bitcoin, Elon Musk Bumps Dogecoin, Ethereum Founder Supports Twitter CEO Some, however, aren’t...

2020-3-8 03:30


Фото:

3 Ways to Turn a Crypto Profit With Almost No Risk

In the last several months, the cryptocurrency market has been embroiled in a wave of volatility that has seen many cryptocurrencies fluctuate between bullish and bearish price action. Although this market is welcomed by traders that thrive on volatility — such as day traders and volatility traders — it has left more risk-averse cryptocurrency holders […] The post 3 Ways to Turn a Crypto Profit With Almost No Risk appeared first on BeInCrypto.

2020-3-5 19:00


Фото:

How Stock Market Bubble Fears Could Fuel Crypto Investment

Crypto markets have corrected today but stock markets continue to surge despite mounting warnings of economic despair ahead. When the bubble bursts will investors turn to digital assets as a safe haven? Stocks Up Amid Virus Fears, Crypto Dumps The current scenario on Wall Street is deceptively bullish in a country where red lights are flashing all over the economic board.

2020-2-20 16:00