After $SUI reclaiming lost ground, can it open up room above 7 dollars?
From the weekly chart, SUI is still below the upward trendline it previously broke down from. To regain the lost price levels is the first major hurdle in its recovery.
Only after breaking through this downward pressure can it have a chance to move toward 1.9809 dollars.
If it can later hold the breakout and confirm support on a retest, then the next targets would be the two previous highs at 3.9168 dollars and 5.3274 dollars.
According to this technical projection, reaching these levels will likely trigger a pullback. Only after stabilizing would it be possible to continue challenging the upper trendline and push above 7 dollars.
However, the premise for this big target is first rebuilding the upward structure. If the recent low is broken, this bullish structure will fail.
From the weekly chart, SUI is still below the upward trendline it previously broke down from. To regain the lost price levels is the first major hurdle in its recovery.
Only after breaking through this downward pressure can it have a chance to move toward 1.9809 dollars.
If it can later hold the breakout and confirm support on a retest, then the next targets would be the two previous highs at 3.9168 dollars and 5.3274 dollars.
According to this technical projection, reaching these levels will likely trigger a pullback. Only after stabilizing would it be possible to continue challenging the upper trendline and push above 7 dollars.
However, the premise for this big target is first rebuilding the upward structure. If the recent low is broken, this bullish structure will fail.
