- Altcoin SUI retests the neckline of the cup and handle formation.
- Having completed the formation, the analyst sees major support for a price surge.
- He goes on to set two major bull targets for SUI at $8.5 and $31.
While this bull cycle has yet to see the peak of the altseason arrive, a few highly promising altcoins went on to set new ATHs of their own following Bitcoin’s pump in Q4 of 2024. To name a few FET, ONDO, and SUI went on to set new ATH prices only to see the prices dip from the many correction phases in the crypto market this year. Now one analysts highlihgts how altcoin SUI retests the neckline of the cup and handle formation showing major support for a price surge soon.
Altcoin SUI Retests the Neckline of the Cup and Handle Formation
SUI is one of the most bullish altcoins this bull cycle. According to many analysts, the altcoin is primed to hit much higher ATHs as the cycle continues and once altseason’s peak phase kicks in. Despite SUI having already set a new ATH earlier this bull cycle, expectation for SUI to prices to pump and hit much higher highs between $8.5 and $21 continue to grow.
According to CoinMarketCap analytics, the price of SUI currently sits at $2.06. The altcoin boasts a total market cap of $6,726,014,241.94 and a 24-hour trading volume of $$824,253,188.77. The asset set a new ATH of $5.35 three months ago and one analyst highlights a bullish signal that could bring the price of SUI back up to the $5 range and expects the price to climb higher in the months ahead.
Next SUI ATH Targets Set at $8.5 and $21
As we can see from the post above, this analyst, known for his many accurate market reading and technical price analysis charts, shares a bullish observation made on the 1-week SUI price chart. The analyst says that SUI is retesting the neckline of the cup and handle formation it has completed and marks this is a major support signal for the popular altcoin asset. He says the retest looks clean and expects the mid-term market correction to be coming to a close.
He concludes the post by saying that a new ATH is inevitable for SUI price this year. What’s more, the analyst predicted in 2023, that the price of SUI would go up to hit much higher targets this year. As we can see from the post abovem teh analyst said that SUI could be one of the best performers this bull cycle. He had marked a key resistance phase which SUI seems to have already broken out of and now sets two bull targets for SUI price to hit which are $8.5 and $21.
