- Altcoin trader spots SUI testing major support line again.
- This observation on the daily price chart bodes well for SUI.
- The analyst expects SUI to reclaim the $2.05 price target soon.
The week seems to be closing in a bearish sideways movement direction as the price of BTC and ETH trade at prices under $90,000 and $3,000, respectively. This allows analysts to shift their sights temporarily. So far, many other altcoins have been showing highly promising bullish indicators in their respective price charts. For instance, one altcoin trader spots SUI testing major support line again on the daily price chart.
Altcoins Trader Spots SUI Testing Major Support Line Again
Among all the many bullish altcoins this bull cycle, SUI has been a new altcoin that went on to set a new ATH record this cycle. This was an especially impressive feat as not many altcoins were able to set new ATH prices so fr this bull cycle. In fact, the pioneer altcoin asset, Ethereum (ETH), was barely able to break its own previous ATH record. Still, ETH set a new ATH.
In detail, the price of ETH saw a very slow pump. First, during Q1 of 2025, when the altseason peak phase was expected to arrive, the price of ETH fell alongside ETH and went on to set a bottom during that brutal correction phase. Following this, the price of ETH finally rallied between Q2 and Q3 of 2025 and surged from the $1,700 price range to the $3,900 price range.
After this rally, hope for altseason grew tremendously, and institutional accumulation for ETH was on the rise. Finally, the price of ETH went on to set a new ATH at the $4,900 price range, just above its previous $4,800 price range. However, failing to break $5,000, the price of ETh then declined heavily, leading analysts to believe that altseason was delayed yet again, setting high hopes for altseason in 2026 instead.
Can SUI Break Towards $2.05 Support?
Thus, between 2024 and 2025 only ETH, BNB, SOL, FET, ONDO, and SUI were some of the altcoins that set new ATH prices, although only a few of them saw an impressive price pump. Now, analysts believe a greater pump and altseason peak price pump phase has yet to follow through, and during this time, SUI is expected to set much higher ATH prices, starting with reclaiming higher price targets.
As we can see from the post above, this reputed crypto analyst sees SUI testing the support again on the daily price chart. He then reveals his expectations in looking for a bounce in the price of SUI in the area highlighted by the chart. According to CoinMarketCap analytics, the price of SUI is trading in the $1.49 price range, signifying a drop of over 2% and over 16% in the last 24 hours and 7 days, respectively. The analyst expects SUI to reclaim the $2.05 price target soon.
