SUI has shown strength following a crucial retest of a previous resistance level. Following this retest, the price has seen some upward movement, which crypto analyst Dami-Defi views as bullish and strong for SUI.
The analyst suggests that reaching $10 is now within reach, representing a major potential upside from current levels of around $3.50.
Technical Analysis Shows Promising Signs
The weekly price chart of SUI/USD reveals an encouraging technical setup. The cryptocurrency recently tested a critical trendline that previously acted as resistance but has now transformed into support—a classic bullish signal in technical analysis. After reaching heights above $5, SUI has pulled back to approximately $3.65, where it found strong buying interest.
According to Dami-Defi’s analysis, this bounce off the trendline demonstrates significant market strength. The weekly chart displays a series of higher highs and higher lows, establishing a clear upward trend that supports the bullish narrative.
SUI Analyst Targets $10
“$SUI just retested broken resistance. looking strong! $10 $SUI is only a matter of time,” states Dami-Defi in a recent market update. This target represents a substantial move from current levels, but the technical structure suggests it’s achievable within the broader uptrend.
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The current market structure appears particularly favorable. While the trendline holds as support, SUI maintains the potential to not only retest its recent highs but potentially push toward the ambitious $10 target. The successful retest of the previous resistance level adds credibility to this bullish outlook.
However, traders should remain vigilant. A failure to maintain support at the current trendline could trigger a deeper retracement, potentially testing lower support levels around $2.50 or below. The weekly close above the trendline will be crucial for confirming the continuation of the bullish trend that Dami-Defi anticipates.
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