SUI price may be looking at a potential rally, despite the fact that it’s currently trending lower, having lost about 4% in 24 hours.
According to analysts, SUI crypto may be heading to a new all-time high if a key technical pattern completes.
A successful breakout from the pattern points to a four-fold uptrend from the current level of $2.5.
SUI Price Prediction: $8 or $11 Is The Next Stop For SUI
The SUI Community X account posted a SUI price prediction projecting a target between the range of $7 and $11 based on Fibonacci extension levels.
According to their analysis, the next objectives for SUI sit at $7.7 and $11.2, which represent a 4x price movement from the current level.
The cryptocurrency consistently posted higher highs and higher lows over the last few months. While the chart indicates a straight uptrend, the movement continues to face resistance around $3.
However, the lower levels near $2.1 and $2.3 have strong support from solid buying pressure and an overall bullish sentiment.
The Fibonacci extensions drawn on the chart identify $7.7 as the 1.618 extension level and $11.2 as the 2.618 level.
These targets often act as significant resistance zones in trending markets with the $7.7 level representing the first major hurdle, where medium-term traders may look to take profits.
The long-term forecast for SUI based on a projection till 2026 Q2 aims for the bulls to tackle resistance around $11.
The good news is that this could happen sooner than expected with the recent breakout candle and the expanding volumes pointing towards renewed investor interest.
SUI Flashes Symmetrical Triangle Pattern
Trader and analyst Don recently shared a bullish chart projection for SUI, accompanied by the confident caption, “$8 is easy.”
His chart spotlights a large symmetrical triangle pattern on SUI. A symmetrical triangle is a continuation setup that precedes major price expansion.
The setup has been developing for several months, with price compressing between a steadily rising support line and a descending resistance trendline.
There is a tug of war between buyers and sellers with each swing narrowing until either of the sides breaks through. Zooming in, the bulls have an upper hand with momentum suggesting a breakout to $8 is inevitable.
The measured move from the triangle’s height points directly toward the $8 level, which aligns closely with earlier Fibonacci-based projections from our previous analysis. If the breakout follows through with strong volume, SUI could realistically aim for that level in the next leg higher.
$3 Is The Most Critical Level To Watch Out On The SUI Chart
An important level to watch out for is the $3 price zone which expert analyst Ali urged his followers was a prime buying zone as early as September 30.
The price has since retreated towards $2.6 due to selling pressure around the critical level, but the overall structure on the chart still points to a potential bullish reversal in the coming weeks.
As per Ali’s analysis, SUI has been trading within a series of lower highs and higher lows compressing price action into a narrowing range.
Such a setup often precedes a decisive move, and given the recent technical signals, the odds appear to favor a breakout to the upside.