CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

NewsBTC 2025-05-21 08:30:57

SUI Preparing For Another Leg Up – Is $5 The Next Target?

After its breakout, SUI has been consolidating within a key range and has faced momentary resistance above the $4.00 level. Some analysts suggest that the cryptocurrency’s next target sits near the $5.00 mark, as it could be repeating its all-time high (ATH) rally. Related Reading: Solana Rejected From Key ‘Inflection Point’, But Multi-Year Trend Suggests New Highs SUI Party On Pause SUI has seen an impressive 120% recovery from April’s $1.76 low, reclaiming the $2.00 and $3.00 barriers in the past few weeks. The cryptocurrency has surged 85% in the last month despite its recent token unlock, rallying to a fourth-month high of $4.29 last Monday. However, SUI has retraced 10% from last week’s high, hovering between the $3.60-$4.10 price range. Trader Froggy pointed out that the cryptocurrency is approaching the significant $4.00 resistance, which it has been unable to hold for seven days. Breaking above this level “will set the stage for a strong move up,” he explained, adding, “This could be the trigger that breaks the range and opens up the next leg higher.” Meanwhile, Rekt Capital recently highlighted that SUI has built a re-accumulation range, between $3.39 and $3.78, like it did in late 2024. At the time, the cryptocurrency consolidated around this range’s upper boundary for weeks before Weekly Closing above this level and retesting it as support to confirm a breakout towards a new ATH. This time, SUI closed above the $3.78 mark two weeks ago and confirmed it as support last Sunday after closing the week at $3.94, which could suggest that a breakout to a new high is coming. SUI’s Rally To $5.00 Loading? Sjuul from AltCryptoGems considers that SUI’s consolidation is loading the cryptocurrency’s next leg up, resembling its previous performance. According to the analyst, the altcoin is consolidating within a short-term bull flag and preparing for a breakout, like it did twice in the past month. Similarly, AltCryptoTalk affirmed that SUI is “overall bullish” according to its recent all-time high (ATH) performance and advised investors not to let the recent pullback “fool” them, if it holds the $3.30 support. The analyst noted that the cryptocurrency’s latest ATH breakout saw a four-stage rally, with an initial big impulse and correction, and three smaller impulses followed by corrections. Based on this, SUI is likely preparing for the second smaller impulse, as it registered a bigger breakout in late April and a smaller rally in early May. However, he warned that the smaller impulse after a bigger one is “usually a sign of weakness.” Related Reading: Bitcoin Price Nears Record Highs: Are We Headed For A $120,000 Breakout For its next jump, the altcoin must break through the range’s upper boundary, around the $4.00 mark, before continuing its rally. If history repeats, SUI could reach the $5.00 mark in the coming weeks, “I’m waiting for this high or a new high to be formed and then to expect another bigger bullish wave,” the analyst concluded. As of this writing, SUI trades at $3.84, a 2.1% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen