SUI In A Sweet Spot: Structural Support And VWAP Align For Potential Breakout

SUI is currently sitting in a prime “sweet spot,” where key structural support meets the VWAP average. This alignment establishes a robust technical foundation, indicating a potential breakout as buyers step in at this critical level. Key Support Level Near Aligning With VWAP AverageIn a post on X, CryptoPulse drew attention to SUI’s recent price action, noting that the token has pulled back into what is described as a “sweet spot” for potential buying opportunities. The price recently touched the VWAP (Volume Weighted Average Price) and is currently sitting directly on a critical structural support level around $3.50. This zone has been a key area of interest for the analyst, who has been patiently waiting for SUI to reach this level before stepping in. The convergence of the VWAP and structural support creates a favorable setup that often precedes strong upward moves. Fundamentally, SUI is also gaining increasing recognition and traction within the cryptocurrency ecosystem. The project’s growing presence, combined with solid chart structure, reinforces the possibility of substantial upside potential over the coming weeks and months.Currently, the analyst is actively averaging into their position, setting an initial target at $5. However, they remain optimistic that this setup can extend much further if momentum continues to build and key technical levels are broken. With both technical and fundamental factors converging, CryptoPulse views SUI as a project worth watching closely for possible significant gains ahead.SUI Chart Shows Promise, But Setup Needs ConfirmationSharing additional insights in a separate post, AlgoCats highlighted that SUI is currently showing a very promising chart setup. The analyst noted that while the structure looks favorable, they are waiting for a more defined formation to develop, which would offer a clearer signal for a long position before considering an entry point. Their target is a key resistance zone that has seen multiple wicks and a previous fake breakout, marking it as a critical level where price action could accelerate.This resistance zone is central to their trading plan, as it could act as a springboard for a potential breakout if approached with the right setup. However, AlgoCats emphasized that patience is key, and they intend to wait for confirmation before making any move.Until that confirmation arrives, the focus remains on observing how SUI behaves around current levels. AlgoCats is prepared to act, but only when the chart provides a clean and confident signal for entry.At the time of writing, SUI was trading at $3.54, demonstrating a nearly 3% increase in the last 24 hours. Its trading volume has increased significantly by more than 33% in the past day.Weiter zum vollständigen Artikel bei NewsBTC Weiter zum vollständigen Artikel bei NewsBTC