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SUI Holds Long-Term Trendline Support As Traders Eye Explosive Upside Target
SUI defended the 0.786 Fib zone with a clean rebound, maintaining higher lows on weekly charts and preserving its bullish market structure.
The symmetrical triangle pattern narrows, with breakout potential above $3.50 targeting $4.01, $4.96, $6.04, and $7.01.
Elliott Wave analysis points to wave (3) expansion, with Fibonacci targets extending toward $11.85 if bullish momentum sustains.
SUI has bounced and is holding a bullish structure within a tightening triangle. Traders now anticipate a breakout that could ignite a powerful rally toward multi-month highs and beyond.
Bulls Hold the Line at Trendline Support
According to Marcus Corvinus, $SUI snapped back “sharp, clean and confident” from the 0.786 Fibonacci retracement.Price is respecting an ascending trendline between $2.20 and $2.60, a zone tested multiple times since September 2024. Despite weeks of selling pressure, the higher-low structure remains intact.
The asset continues to consolidate inside a symmetrical triangle formed after the December 2024 peak near $6.90. Resistance caps rallies near $3.80–$4.00, while support has repeatedly attracted buyers. Current price trades near $2.89, mid-range between key support and resistance.
Compression Builds Toward a Breakout
A breakout above $3.50 could send targets to $4.5 and above based on historical rallies and Fibonacci projections. Failure to hold above $2.20 would invalidate the bullish structure.
Elliott Wave counts from More Crypto Online place the asset in wave (3) of a larger impulsive cycle, with Fibonacci extensions projecting $7.16, $8.17, and $11.85. The recent move above the 61.8% retracement at $2.4355 adds confluence to the bullish case.
Historical Retests Fuel Optimism
Analyst Lau highlights that past retests of SUI’s long-term trendline have delivered triple-digit gains — 1,058% in 2024 and 122% in March 2025. The current retest could pave the way toward $7.00, echoing prior expansion phases.
Momentum indicators show short-term cooling, with RSI near 53.82 and MACD turning softer after recent highs. However, the structure still points to price compression before a decisive move.