$SUI is still below $1. From the current price all the way up to $8, there are three key hurdles to clear.
The current weekly price is 0.8366. The first move I’m watching closely is a break above the descending trendline and a push to 1.97. On a subsequent pullback, as long as 1.97 holds and turns into support, the next major resistance is at 3.94.
Above that is the previous high of 5.36. If the weekly chart breaks decisively above this level, the uptrend target comes into view at $8—about 856% above the current price.
However, $8 is also a watershed level. If SUI surges there and gets sharply rejected, then breaks below both 5.36 and 3.94 during the pullback, the market’s center of gravity will fall back to 1.97.
Interestingly, the same level can serve as both a launchpad and a potential end point for the rally. A drop from the high would amount to a pullback of roughly 75%.
The current weekly price is 0.8366. The first move I’m watching closely is a break above the descending trendline and a push to 1.97. On a subsequent pullback, as long as 1.97 holds and turns into support, the next major resistance is at 3.94.
Above that is the previous high of 5.36. If the weekly chart breaks decisively above this level, the uptrend target comes into view at $8—about 856% above the current price.
However, $8 is also a watershed level. If SUI surges there and gets sharply rejected, then breaks below both 5.36 and 3.94 during the pullback, the market’s center of gravity will fall back to 1.97.
Interestingly, the same level can serve as both a launchpad and a potential end point for the rally. A drop from the high would amount to a pullback of roughly 75%.