Sui Price Analysis Powered by AI

SUI Set for Momentum Surge: Breakout Above $3.00 Targets $3.34 in Next 24 Hours

Long-term Trend (90 days):
- From April to early May, SUI experienced significant bullish momentum, rallying from around $2.10 to as high as $4.26 (May 12), peaking with high volume.
- The ensuing period showed a clear downward correction, descending toward the low $2.55 region (June 21), but marked higher lows and resistance retests suggest medium-term stabilization.
Short-term Trend (last two weeks):
- Since the June end low ($2.55 - $2.45), SUI has formed a sequence of higher lows and higher highs: $2.45 (June 22) → $2.72 (June 27) → $2.90 (July 2);
- Strong bounce from late June, with support at $2.75 – $2.80 region, then successive daily closes above $2.90, culminating in the current breakout action above $3.00.

Double Bottom: Notably, June 22 ($2.44) and June 25 ($2.73) form a pronounced double bottom—a classic reversal pattern.
Ascending Triangle: From June 27 to July 8, price action between support ($2.75) and resistance ($2.90-$3.00) forms an ascending triangle. The breakout above $3.00 on July 9 signals bullish potential.

Short-Term EMA/SMA (periods inferred):
- 9-day and 21-day SMA/EMA (approximated from recent closes) turn upward, with latest closes well above average price levels from June.
- Price acceptance above 50-day SMA ($2.90 area), suggesting a shift in short-term trend.
- 200-day SMA slopes upward; price adheres to the bullish side in most of July.

RSI (Relative Strength Index):
- Based on recent price swings, RSI should now be in the 60-65 region, signifying a rising bullish momentum but not yet overbought.
MACD:
- MACD histogram would show a fresh bullish crossover as price breaks $3.00, reinforcing short-term upward bias.
Stochastic Oscillator:
- Rebounding from neutral territory, likely entering 75 (bullish acceleration) after the $3.00 breach.

Volume Confirmation:
- Current breakout move on July 9 is supported by accelerated hourly and daily volumes (81M at 19:00–20:00, far exceeding earlier periods), confirming bullish conviction and follow-through above $3.00.

ATR (Average True Range)/Recent High-Low Swings:
- SUI’s intraday ranges contracted post-May but are expanding again with current momentum, suggesting an imminent larger move.
- This re-expansion of volatility often marks the start of a new directional phase.

Support Zones: $2.90 (old resistance now new support), $2.85 (mid-term pivot), $2.75/$2.60 (strong base built in late June).
Resistance Levels: $3.08–$3.12 (minor supply, recent hourly high), $3.34 (mid-June swing high), $3.50–$3.56 (major May/June supply zone, longer-term target).
Breakout Confirmation: The move above $3.00 has cleared three days of consolidation, confirming a resolved compression pattern.

Major Levels:
- 78.6% retracement: $2.45 (held as strong support in June)
- 61.8% retracement: $2.95–$3.00 (now breached convincingly)
- 38.2% retracement: $3.45 (major target on upside if rally persists)

Wave Count:
- The recent structure hints that the correction (Wave 2 or B) ended at late June lows. The most recent action is likely Wave 3 or C, i.e., a strong impulsive/bullish wave. This wave commonly covers previous resistance quickly as FOMO and technical buyers pile in.

Market Sentiment:
- Strong bounce and breakout post-consolidation, combined with rising volume and higher lows, signal renewed optimism.
- No evidence of exhaustion or divergence in the immediate price structure.
Seasonality:
- Cryptocurrencies often show stronger trends (up or down) early in Q3. Momentum aligns with historical seasonality favoring upswings after summer doldrums.

Expected Range, Next 24 Hrs:
- Additional 3-5% move expected given volatility expansion, with potential for spike to $3.12–$3.34 range.
Risk:
- Break below $2.90–$2.85 would invalidate bullish thesis (close below $2.87—stop recommended for bulls).

The culmination of an ascending triangle breakout, volume expansion, and strong momentum indicators show high probability of continued short-term upside movement for SUI. With a cluster of supports just below and limited resistance until $3.12, and then $3.34, the risk/reward profile strongly supports a long (Buy) position.

Buy (Long):

Optimal entry: Near current price ($3.02), aggressive entries at $3.01–$3.03 zone.
Profit target: $3.34 (upper boundary of last significant overhead supply/consolidation range).
Stop-loss: $2.87 (below recent structure and triangle breakout point).

Conclusion: BUY SUI near current price with short-term target of $3.34, stop at $2.87, favoring breakout continuation over next 24 hours.