SUI Chart Patterns Suggest Price Could Move Higher – Key Levels to Watch

SUI has been showing intriguing price movements, as highlighted by recent chart analyses and insights from prominent analysts, CryptoBull and Satoshi Flipper.

Recent SUI price analysis by prominent crypto traders, CryptoBull and Satoshi Flipper, has revealed interesting chart patterns that could influence the token’s future price movements.

SUI has been displaying a falling channel pattern on the daily chart, according to CryptoBull's analysis. This setup is characterized by two downward-sloping trendlines: an upper resistance and a lower support.

The SUI price has been oscillating within these lines and is now approaching the upper trendline, which serves as resistance. CryptoBull noted that traders have started taking profits at this level, indicating caution.

volume profile on the SUI daily chart by CryptoBull. Source: TradingView

The volume profile on the chart highlights the importance of the Point of Control (PoC), a level where the highest trading volume has occurred. If SUI flips the trendline resistance and sustains above the PoC, it could trigger a bullish rally.

However, failure to break this resistance may see the price retreat to the support line within the channel. CryptoBull suggests keeping an eye on this crucial resistance zone, as a strong upward move could follow a successful breakout.

On the other hand, Satoshi Flipper's analysis shows a broadening wedge pattern on the SUI 4-hour chart. This pattern, defined by diverging trendlines, typically indicates increasing volatility.

SUI's price has been bouncing between these lines, with the recent action showing a rebound from the lower support, suggesting buying interest at these levels.

SUI 4-hour chart analysis by Satoshi Flipper. Source: TradingView

SatoshiFlipper shared that they have opened a long position, reflecting confidence in the potential upside. The trader’s optimism stems from SUI’s bounce-off support, which they believe could propel the price toward the upper resistance of the wedge.

The analyst also mentioned that cooperation from Bitcoin could further support a bullish movement, implying that broader market dynamics may play a role in SUI’s next move.

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