Expect “Strong Bullish Rally” for SUI if This Key Resistance Breaks: Top Analyst

There is a potential bullish signal for SUI as technical indicators suggest a possible upward momentum.

Prominent crypto analyst, Rose Premium Signals, known for their technical analysis prowess and a following of over 75k on X (formerly Twitter), is sharing an optimistic outlook on SUI price.

According to the analyst, there’s a potential bullish signal brewing for SUI as it appears to be forming a classic falling wedge pattern—a technical formation that often precedes significant price movements.

What’s more, this pattern is forming near a substantial support zone, which also happens to be the 0.618-0.786 Fibonacci retracement area from the 2024 low to the 2025 high.

Crucially, this pattern is appearing after a downtrend, making it particularly interesting for technical analysis enthusiasts. Indeed, SUI has been exhibiting a series of lower highs and lower lows throughout the wedge, with several rejections from the bottom of the pattern.

These rejections at lower levels suggest potential accumulation by buyers at these rates, indicating increasing confidence in SUI’s value proposition at current price points.

Entry Strategy & Price Targets

For those interested in entering long positions on SUI, the analyst suggests an entry zone between $2.00 and $1.80.

With SUI currently trading at $2.3, it is just above the suggested entry zone, potentially offering a favorable risk-to-reward setup for those willing to take a slightly higher entry.

If SUI manages to break above the descending resistance line of the wedge, it could signal the start of a "strong bullish rally."

According to the analysis, SUI price could then zoom towards three defined targets:

The first target is at $3.60, which aligns with the 0.382 Fibonacci level from the 2024 low to the 2025 high.

The second target is set at $4.30, coinciding with the 0.50 Fibonacci retracement area.

Finally, the third and final target is seen at $5.00, which is a psychological round-level resistance.

For optimal risk management, the analyst recommends placing a stop loss at $1.60. This level is below both the wedge pattern and the Fibonacci support box, allowing for some room for the price to fluctuate within the pattern. A price movement below this point would likely invalidate the bullish scenario.

Key SUI Price Levels To Note

The current support zone where the wedge pattern is forming is crucial, and it aligns with critical Fibonacci retracement levels. These levels are calculated from the swing low of October 2024 to the swing high of January 2025.

Technical analysis often highlights Fibonacci levels as key areas where traders observe price reversals and accumulations.

Before reaching the projected targets, SUI would need to overcome the immediate resistance in the $2.60-$2.80 range. This zone forms the upper boundary of the wedge pattern.

A successful breakthrough of this region would significantly strengthen the bullish case and potentially attract momentum traders who are typically keen on capitalizing on trending markets.

However, traders should remain vigilant as external market factors, including Bitcoin's price movements and broader market trends, could exert a significant influence on SUI's price trajectory.

If SUI fails to maintain support and drops below $1.60, it would likely signal a continuation of the bearish trend, invalidating the bullish pattern identified by Rose Premium Signals. This could lead to further downward pressure on the token.