- Short-Term Pullback Expected Before Potential Rally: Following a robust surge to $4.29, SUI is showing signs of a short-term cooldown. Analyst Ali Martinez flagged a TD Sequential sell signal on the 3-day chart, suggesting a potential dip to the $3.00 – $3.50 support zone. However, if support holds, a renewed rally could push SUI higher.
- Bullish Potential for $10 Target: Despite the bearish signal, the broader technical setup remains promising. Ascending triangles on the 4-hour chart indicate a possible breakout move. A decisive push above $4.50 could trigger a swift run to $4.80, with some analysts projecting a path to $10 in the coming weeks.
- Short Pressure and Market Sentiment: Coinglass data shows short positions slightly outweighing long ones, with a long/short ratio of 0.9161. While some traders expect a pullback, a potential short squeeze could fuel further gains if bullish momentum returns, especially if SUI maintains support above $3.00 and breaks resistance at $4.80.
SUI, a rising altcoin, is sending mixed signals as analysts anticipate a short-term pullback despite a promising long-term outlook. Following a robust rally that took SUI to nearly $4.29, market watchers are eyeing a temporary correction before another bullish wave that could potentially propel the token toward double-digit territory.
TD Sequential Sell Signal: Cooling Off Before the Next Rally?
Crypto analyst Ali Martinez recently flagged a TD Sequential sell signal on the 3-day SUI chart. This indicator, known for predicting trend exhaustion, suggests that SUI’s recent surge may be ready for a cooldown. The expected pullback could see prices dip toward the $3.00 to $3.50 support zone — a level that has historically served as a springboard for upward momentum.
If support holds, bulls might look to re-enter, aiming to reignite a rally toward higher levels.
Can SUI Target $10?
Despite the short-term bearish signal, the broader technical framework still leans bullish. Crypto Gems’ recent analysis pointed out ascending triangles on the 4-hour chart — a bullish formation typically seen ahead of breakout moves. If SUI manages to clear resistance at $4.50, analysts predict a swift run to $4.80. Surpassing this mark could confirm a broader bullish reversal, potentially setting the stage for a move toward $10 in the coming weeks.
Renowned trader Crypto Patel highlighted the strength of SUI’s recent rally, noting a 130% surge from his entry at $2.00 to a local high of $4.29. While Patel expects a healthy pullback to $3.00, he remains optimistic about the altcoin’s ability to resume its climb.
In Patel’s broader outlook, SUI could range between $5 and $20 over the medium to long term, depending on how well it maintains key support levels and attracts investor interest.
Short Pressure and Market Sentiment
Data from Coinglass adds another layer of complexity, showing a shift in sentiment. The long/short ratio for SUI currently sits at 0.9161, with short positions slightly outweighing long ones — 52.19% versus 47.81%. This skew suggests traders are preparing for a short-term decline, possibly fueled by profit-taking after the recent rally.
However, such positioning could also trigger a short squeeze if bullish momentum returns, pushing prices higher in a sudden move.
Will SUI Hold Support and Push Higher?
For SUI to decisively target $10, it must reclaim and maintain support above $3.00 while breaking resistance at $4.80. These technical zones will serve as key confirmation points, indicating whether the recent rally was a brief blip or the start of a sustained bullish run.
Investor sentiment remains cautiously optimistic, with some targeting an ambitious $20 price point. Rising volume, structural support, and sustained network activity suggest SUI may still be in the early stages of a larger breakout cycle.
