Summary: SUI’s triangle breakout confirmed: Can price rally past key barriers?

SUI Soars: Is a $7 Target in Sight Amidst Market Skepticism? SUI has powerfully broken out of a multi-month symmetrical triangle, igniting bullish expectations for a climb to the $7 target. This strong technical move is bolstered by significant exchange outflows, totaling $8.74 million. These outflows signal robust accumulation and reduced sell pressure, affirming the breakout’s legitimacy. However, despite this promising setup, market sentiment remains notably subdued, with low Weighted Sentiment and social dominance. This skepticism, while seemingly negative, can paradoxically serve as a contrarian signal for major rallies. Further complicating the picture, dominant seller activity persists, potentially capping immediate upside. Yet, this aggressive selling, if absorbed by demand, could paradoxically validate underlying strength. A critical near-term hurdle lies between $3.80 and $4.00, where dense long liquidation clusters (over $3M) create strong resistance. Reclaiming and holding above $4.00 is paramount for the breakout to maintain credibility. In essence, SUI’s breakout is technically sound and supported by positive exchange flows. Nevertheless, weak sentiment, ongoing sell pressure, and overhead liquidation zones pose immediate challenges. If SUI successfully clears the crucial $4.00 barrier with strong buyer support, the ambitious path to $7 becomes significantly more plausible. For now, cautious optimism prevails regarding SUI’s future trajectory.