SUI is showing signs of a potential breakout after rebounding from a critical support zone, according to prominent crypto analyst Michaël van de Poppe. In a recent analysis, van de Poppe highlighted a strong bounce in the token’s price and suggested that a bullish reversal could be underway—if one crucial level is taken out.
The $3 resistance zone is the line in the sand, he says. If SUI manages to close above this area, it could trigger a wave of short liquidations, accelerating upward momentum and potentially driving the price back to the $4 mark.
Chart Points to a Shift in Momentum
The accompanying chart shows SUI reclaiming a major demand zone after an extended downtrend. Van de Poppe emphasizes that this area has historically acted as a strong base, and its recent retest could signal the start of a new upward phase. He further notes that a clean break above $3 would invalidate many bearish setups, forcing short sellers to exit and fueling a rapid rally.
“Strong support zone hit. Should be holding up on these levels,” van de Poppe commented. He also marked the $4 region as a possible liquidity target if momentum builds.
Traders Watching the $3 Mark Closely
With altcoin markets showing early signs of strength, SUI’s structure is drawing increased attention. A successful breakout could mark a significant trend reversal for the asset, which has been trading under pressure for much of the year.
Market participants will now be watching closely to see if SUI can push through the $3 barrier and spark the short squeeze that could send it higher in the coming days.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/market/sui-price-eyes-major-breakout-as-key-resistance-nears-says-analyst/