SUI trades at crucial supply levels, sparking intense speculation among traders and analysts about its next move. After recently reaching a new all-time high (ATH), the price failed to sustain above its previous ATH, raising concerns about whether this was a genuine breakout or merely a fakeout. The current price action has left market participants waiting for confirmation as bulls attempt to reclaim dominance.
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Renowned analyst and investor Carl Runefelt has shared a bullish outlook for SUI, predicting an imminent breakout. According to his analysis, a successful push above the current supply levels could trigger a rally toward $4.20 in the coming days—or potentially within hours. Runefelt’s perspective adds confidence to the market sentiment, suggesting that SUI still holds the potential to reclaim its upward trajectory despite recent setbacks.
The coming days are crucial for SUI as traders monitor whether bulls can overcome the key resistance levels. A decisive breakout could solidify SUI’s position as one of the most promising assets in the crypto market.
At the same time, a failure to do so might result in prolonged consolidation or a deeper pullback. All eyes remain on the $4.20 target and SUI’s bullish momentum.
SUI Only 5% Away From ATH
SUI recently surged to a new all-time high (ATH) but failed to hold above the previous ATH of $4.05 set on November 17. Despite this brief pullback, the price action indicates that SUI remains poised to reclaim and surpass its ATH, with analysts and investors expecting significant upside momentum shortly.
Top analyst Carl Runefelt provided a detailed technical analysis on X, highlighting that SUI recently broke out of a 4-hour symmetrical triangle pattern, signaling bullish momentum. SUI trades within a bullish flag formation, a classic continuation pattern often preceding substantial price rallies.
Runefelt has set a price target of $4.20 in the coming hours, which he believes could act as the next major resistance before SUI establishes new highs.
The broader market environment adds further confidence to this bullish outlook. With strong momentum, Bitcoin’s breakout above the $100K level has historically triggered altcoin rallies as liquidity flows from BTC into smaller assets. This dynamic positions SUI for a…
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