Analyst Predicts SUI Could Surge 110% to $7 on Ascending Triangle
Analyst Ali Martinez predicts SUI price could reach $7, marking a 110% gain from current levels, based on an ascending triangle breakout pattern on the daily chart. After falling from above $4.1 in August to roughly $3.2 in early September, SUI has rallied over 4% in the past week, finding key support near $3.1. Martinez expects a final retest of the lower trendline before a bullish breakout above the horizontal resistance. The price target calculation adds the triangle’s vertical height to the breakout point, setting a new all-time high above SUI’s previous peak of $5.8. As of writing, SUI trades near $3.38, up over 2% in 24 hours.
Bullish
The article outlines a bullish technical setup using an ascending triangle, a continuation pattern that historically precedes breakouts. The price action retesting support and the projected breakout to $7 implies strong upward momentum. Similar chart formations in major altcoins like SOL and ADA have led to significant gains post-breakout. Traders may view the retest as a buying opportunity, supporting short-term bullish trading activity, while a successful breakout towards the $7 target could reinforce long-term bullish sentiment in SUI and broader altcoin markets.