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Strong Rebound for SUI

Written By: ChartChamp

October 11, 2024

SUI is trading within a bullish channel that is sloped upwards. This channel is near SUI’s all time highs, and I think there will be a bullish breakout to new all time highs sooner rather than later. For now SUI is trading within the channel, and has formed a bullish rebound near the lows of the channel around $1.74. The next key target is the upper range of this channel around $2.25. SUI has been outperforming BTC, and needs a bullish weekly candle close to form a bullish breakout on the SUI/BTC pair.

SUI/BTC Forming a Bullish Breakout

On the SUI/BTC pair, SUI has been outperforming Bitcoin with a strong rally dating back to Sept. 1. SUI is trading near a key resistance level here, but is forming a bullish breakout with ease so far. SUI is flipping this light blue support level from resistance into support, and I have 3821 sats as my next key price target.

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