SUI Double Bottom Signals Potential Surge to $7 After Recent Lows

3 mins mins

Key Insights:

SUI testing support at $3.39 could lead to a breakout and price rise toward $7.
Analysts project that after recovery, SUI’s price could reach $5.30, $5.80, and ultimately $7.
Full Sail DEX’s growth boosts liquidity, strengthening the $SUI ecosystem for future price gains.

coincu A cartoonish exaggerated crypto chart with a huge double 1ce29255 c985 45f7 ad0a 1c6b72893d7a 1 — *SUI Double Bottom Signals Potential Surge to $7 After Recent Lows*

SUI has caught the attention of crypto analysts, with many predicting a potential breakout that could push its price toward $7. Following its recovery from a major low near $3.20, $SUI is showing signs of strength.

Support Level Shows Strength in $SUI

According to Ali_charts, $SUI is testing a crucial support level around $3.39. This support has held firm, indicating that the asset could be poised for a significant move upward.

Ali’s technical analysis suggests that $SUI may continue to trend higher, with targets set at $5.30, $5.80, and ultimately $7.00. The support at this level has provided a solid foundation for the asset, allowing it to recover after hitting lower prices earlier in the year.

$SUI is showing signs of stability, making it a strong candidate for a breakout if the price can hold above this support zone. The current price level represents a strategic opportunity for accumulation before any significant upward movement.

Bullish Pattern and Price Movement

However, another analyst points out that $SUI has recovered from its previous low of $3.20, forming a double bottom pattern. This pattern, commonly seen as a sign of strong support, indicates that $SUI is ready to attempt a breakout if it can surpass the $3.90–$3.70 resistance range.

Based on Bigu_ru, after testing lower levels, $SUI is now positioning itself to push higher. If it breaks through key resistance zones, a breakout to higher levels is likely. He emphasizes that the current price movement suggests upward momentum, making it a potentially profitable asset for traders.

As of the latest data, the price of $SUI is $3.35, down by 1.77% in the past 24 hours. However, analysts remain optimistic, as the recent consolidation suggests a potential upward movement.

Full Sail DEX Strengthens $SUI Ecosystem

Meanwhile, crypto analyst Trevinvsgaming draws attention to the strong performance of Full Sail, a decentralized exchange (DEX) built on the $SUI blockchain. Full Sail has seen impressive growth, with $4 million in total value locked (TVL), a 24-hour trading volume of $59 million, and fees of over $84,000.

The analyst suggests that Full Sail’s growth is a positive signal for the $SUI ecosystem, as it attracts liquidity and boosts the network’s overall value. Full Sail’s success is helping to drive more users and liquidity into the $SUI ecosystem. This trend further supports the belief that $SUI’s price could see significant upward movement in the near future.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.