The strong consolidation of SUI around $2 implies the possibility of a massive breakout around 20 with strong re-accumulation and institutional buying support.
SUI is very tightly consolidated in the important price zone of $1.6 to $2, with re-accumulation taking place strongly and trend compression.
Source – X
This is a region that has been subject to sell pressure severally times, which is an indication of stronger demand and accumulation by larger market entities. Price action depicts a narrowing wedge pattern, indicating that a breakout will occur soon.
Levels of trading have increased exponentially on the dips below support levels, catching short sellers off guard and letting institutional investors stack silently.
The accumulation stage represents a shift in the market compression to expansion due to increasing buyer enthusiasm.
The recent rally past the $2.00 is a significant psychological level that SUI has failed to climb.
Over the 24 hours, SUI jumped more than 7 percent to $2.08, even with low overall market volume, implying targeted institutional buying targeting this demand group.
Breakout Could Trigger Massive Upside Surge
One of these price patterns and technical indicators predicts a potential explosive upward trend with targets of about $20, a potential 1,000 percent increase in price.
The bullish momentum has short-term resistance levels of $5, $8, and $12 to use as stepping stones in the event it persists.
The optimism is supported by the high-tech blockchain technology in SUI. Its unique parallel distributed transaction processing enables it to run faster. It scales to the liking of developers and institutional buyers.
This re-accumulation phase represents a preparatory phase towards the next significant price spike of SUI. Several past liquidity grabs have triggered strong upward trends, supporting the view of this breakout scenario.
The demand range between $1.6 and $2 is a powerful base that keeps buyers in control. It sets a parabolic upward trend that might reinvent the role of SUI in the markets over the next several months.
The post SUI Coin News: SUI Eyes Major Breakout as Re-Accumulation Strengthens Near $2 Zone appeared first on Live Bitcoin News.