The SUI token is once again grabbing investors' attention due to the formation of a rare and historically bullish technical pattern. With a positive market trend, this setup could spark a sudden surge in the price. Is now the right time to get in ?
The cryptocurrency market is showing signs of recovery after a recent correction. Ethereum (ETH) has notably rebounded to $3,775, providing bullish momentum that is spreading to major altcoins, including SUI (SUI). This altcoin currently displays encouraging technical signals, suggesting significant upside potential for savvy investors.
On the daily chart, SUI is forming a bearish butterfly harmonic pattern, a configuration often leading to powerful rallies in its final phase, the CD leg. After an initial decline to point A, followed by a rebound to point B, SUI corrected to point C around $2.29. Since this low, the token has reversed the trend and now trades at $4.23, showing a solid bullish structure.
If this harmonic pattern unfolds as expected, SUI could climb to $5.36 and $6.36, corresponding to the Fibonacci extensions 1.0 and 1.272 of the XA leg. This represents an upside potential of approximately 50% from current levels. This presents an interesting opportunity for investors looking to capitalize on the altcoin’s bullish momentum.
While these technical analyses are promising, it’s essential to always conduct your own thorough research before investing in crypto assets. Markets remain volatile and unpredictable in the short term. Be cautious and diversify your investments to best manage risks.
If you wish to take advantage of SUI’s potential rise, you can easily purchase it on Bitget. The platform is completely secure and very user-friendly. Right now, you’ll receive an exceptional bonus upon registration.
Passionate about the crypto world, he explores the blockchain ecosystem to extract the most essential insights. With his expertise in SEO and web writing, he transforms news and technical analysis into clear, engaging, and impactful content. His goal? To help investors better understand the opportunities and challenges of the crypto market.
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