Recent Technical Signals for SUI Point Towards a Potential Surge of Up to 30%

Recent technical signals for SUI point towards a potential surge of up to 30%. Meanwhile, XYZVerse has raised an impressive $8 million in its presale

Recent technical signals for Sui (SUI) suggest that the cryptocurrency price may be setting up for a 30% rally.

As of Monday morning, SUI was trading at $2.66. If the coin rises by 30%, it could reach around $3.46.

On the weekly chart, SUI has just formed a bullish engulfing candlestick pattern. This pattern occurs when a large green candlestick completely engulfs the prior candlestick, indicating strong buying momentum. After a bullish engulfing pattern is formed, the price usually trends upward.

The double-bottom pattern, a bullish reversal signal, has also been spotted on the daily time frame. This pattern suggests that SUI may be poised to break above its current resistance levels.

After falling to lows of $1.20 in March, SUI rebounded to reach highs of $2.50 in May. After forming a triple-bottom pattern, the coin experienced a sharp decline to lows of $1.00. However, it quickly recovered and surged to new highs of $2.50 again.

After testing the Fib level of 0.382, the price saw a strong rejection from the Fib level of 0.5. It seems that the buyers are still in control as the RSI is in positive territory and the price broke above the 200-moving average.

Taking these technical indicators into account, it appears that SUI is setting up for a 30% rally. However, traders should keep an eye on key resistance levels and broader market conditions.

If the bulls manage to push the price action above the Fib level of 0.618, it could pave the way for a rally to the Fib level of 0.786 or even the Fib level of 1.00.

The recent technical signals for Sui (SUI) suggest that the cryptocurrency price may be setting up for a 30% rally. As of Monday morning, SUI was trading at $2.66. If the coin rises by 30%, it could reach around $3.46.On the weekly chart, SUI has just formed a bullish engulfing candlestick pattern. This pattern occurs when a large green candlestick completely engulfs the prior candlestick, indicating strong buying momentum. After a bullish engulfing pattern is formed, the price usually trends upward. The double-bottom pattern, a bullish reversal signal, has also been spotted on the daily time frame. This pattern suggests that SUI may be poised to break above its current resistance levels.After falling to lows of $1.20 in March, SUI rebounded to reach highs of $2.50 in May. After forming a triple-bottom pattern, the coin experienced a sharp decline to lows of $1.00. However, it quickly recovered and surged to new highs of $2.50 again.After testing the Fib level of 0.382, the price saw a strong rejection from the Fib level of 0.5. It seems that the buyers are still in control as the RSI is in positive territory and the price broke above the 200-moving average. Taking these technical indicators into account, it appears that SUI is setting up for a 30% rally. However, traders should keep an eye on key resistance levels and broader market conditions.If the bulls manage to push the price action above the Fib level of 0.618, it could pave the way for a rally to the Fib level of 0.786 or even the Fib level of 1.00.