Breakout In Sight? SUI Set To Test Crucial $3.5 Resistance With ATH In View

Market analyst Ted Pillows predicts a price breakout for Sui (SUI) despite its 17.18% decline in the past month. A bullish pattern has formed, indicating substantial market relief ahead. SUI has hit a local bottom at $2.8-$3.0 and is preparing for a major upside price breakout. The altcoin must overcome a crucial resistance at $3.5, which represents the upper boundary of the descending wedge pattern. A successful daily price close above $3.5 could trigger a buying pressure, leading to a new all-time high. Initial price targets are set at $4.00, but a potential price breakout could hit a minimum price target of $5.21, representing a 60.8% gain. At the time of writing, SUI trades at $3.23, representing a 2.33% gain in the past day. Despite weekly and monthly losses, SUI remains one of the best-performing tokens, with a 211.11% gain in the last year. Pillows' analysis suggests a potential market rally for the next 2-3 weeks.