SUI cup handle structure target $10, breakout zone is coming soon

This article summary generated by AI indicates that SUI has formed a cup and handle pattern on the 1D chart, suggesting a potential breakout upwards to $10. The current support range is between $3.55 and $3.85, and the increase in on-chain activity supports bullish sentiment, despite mixed indicators. SUI's 1D chart shows a cup and handle pattern targeting a breakout upwards to $10. The price is consolidating between $3.55 and $3.85, with an RSI of 52.91, indicating neutral momentum. The growth in on-chain activity has led SUI to surpass Solana in stablecoin transfers, supporting bullish sentiment. SUI is gaining attention as the 1D chart shows a bullish continuation pattern forming. Market observers note the development of a classic cup and handle pattern, which typically appears before a major upward move. A breakout could push SUI towards a full target of $10 based on the current technical data. The cup and handle pattern shows strong formation according to insights shared by Crypto Bullet, with the SUI/USDT 1D chart displaying a well-formed cup and handle pattern. The rounded bottom began forming months ago, and the recent consolidation indicates the handle is nearing completion. This pattern is often regarded as a reliable price breakout prediction, especially with increased volume near resistance levels. The top resistance level of the cup appears to be around $4.20. Confirming a closing price above this line may trigger a measured move based on the depth of the cup. According to the chart structure, the expected target remains close to $10, but further validation through price action and trading volume is needed. The price is currently trading around $3.75, having rebounded from the 50-day moving average near $3.40. Key levels and market indicators suggest an accumulation phase currently between the $3.55 and $3.85 range, indicating consolidation, with a 21.1% decrease in trading volume over the past 24 hours. This is consistent with typical behavior before an upward breakout attempt. The RSI is at 52.91, reflecting a neutral state and suggesting that the overbought phase has cooled down. Source: Momin(X) Meanwhile, the MACD shows a slight bearish divergence in the short term, while the overall trend remains positive. According to Momin's observations, this phase offers a good accumulation opportunity. He points out the rise in SUI's on-chain activity, including surpassing Solana in stablecoin transfers, which is a strong indicator of network growth. If SUI breaks through the resistance area at $4.25, the next round of upward breakout may begin, supported by technical and fundamental signals. SUI's cup and handle structure targets $10, with an upward breakout imminent, as reported on Crypto Front News. Visit our website for more interesting articles about cryptocurrency, blockchain technology, and digital assets.