SUI Aligns Support and VWAP at $3.50, Signals Potential Breakout
SUI has pulled back to a critical structural support level around $3.50, aligning with the VWAP (Volume Weighted Average Price). According to analyst CryptoPulse, this convergence often precedes strong upward moves. CryptoPulse is averaging into a position targeting $5 initially, with potential for higher gains as momentum builds. Another analyst, AlgoCats, highlights a promising chart setup but waits for a clear formation before entering. SUI has gained nearly 3% in 24 hours and seen trading volumes rise by over 33%. The token’s technical alignment and growing project fundamentals suggest a bullish setup for traders awaiting a potential breakout.
Bullish
Aligning SUI’s price with both key structural support and the VWAP suggests accumulation by institutional and retail traders at $3.50, historically a launch pad for rallies. Similar patterns in other tokens, like SOL’s support-VWAP convergence in 2022, preceded multi-day rallies of 15%–20%. The uptick in trading volume (+33%) confirms buyer interest and enhances liquidity, increasing the likelihood of a quick breakout. In the short term, traders may push SUI towards its initial $5 target as momentum attracts momentum traders. Over the longer term, sustained chart structure and fundamental adoption could support continued gains, making this development bullish for SUI’s market prospects.