SUI Poised for Potential $20 Surge Amidst Shifting Market Dynamics
After navigating a challenging period following the October 10 flash crash, the SUI token is demonstrating renewed vigor, painting a compelling picture for its future trajectory. Crypto analyst BeLaunch recently highlighted critical technical and on-chain indicators suggesting SUI could be on the cusp of a significant upturn, potentially eyeing a remarkable $20 target in the upcoming bull cycle.
Two Paths to Growth: Bullish Breakout vs. Extended Correction
BeLaunch's analysis outlines two primary scenarios for SUI's next major move. The most probable outcome, rated with an 8/10 likelihood, indicates SUI is currently testing a crucial breakout above a key resistance line. This scenario suggests the completion of Wave (2) and the imminent commencement of Wave (3) within the Elliott Wave structure – typically the most impulsive and powerful phase of a rally. A confirmed breakout at this level could propel SUI towards unprecedented highs. Conversely, a less likely but plausible alternative (3/10 probability) posits that SUI's current price action remains corrective. In this case, the token might form an 'Alternative X wave' near the $5.37 mark before entering another corrective phase, dubbed 'Alt Y'. Traders are advised to monitor this possibility closely.
On-Chain Health and Historical Precedent
Beyond technical charts, SUI's on-chain fundamentals are signaling a healthy recovery. The Total Value Locked (TVL) on the SUI network has held firm around $1.4 billion. While stable, a decisive move above the $2 billion threshold would act as a powerful catalyst for momentum. Concurrently, Daily Active Users (DAU) have shown consistent upward growth, now approaching 900,000. Historically, SUI has demonstrated a tendency to rally strongly within two to four weeks after both its TVL and DAU metrics begin an upward trend. This historical pattern suggests that SUI might currently be in a 'quiet accumulation window,' where long-term investors are steadily positioning themselves before a potential surge. Overall, the convergence of robust technical signals, stabilizing fundamentals, and shifting momentum indicators — including WaveTrend signaling a bottom below 40 — paints an optimistic outlook. BeLaunch's analysis suggests SUI is preparing to break out of its current consolidation phase, ready to enter a new, potentially bullish, market cycle.
