How High Will Sui Go?

Yesterday, we highlighted the strong growth potential of Litecoin and recommended buy positions, which proved to be the right call as Litecoin's price has surged by nearly 15% since our suggested entry point. Given the highly interconnected nature of cryptocurrencies, this opens the door to identifying other digital assets with similar growth potential.

Today’s analysis focuses on exploring whether Sui could be the next promising addition to a well-balanced portfolio.

4-hour time frame analysis

SUIUSD - 4 Hour Time Frame

Similar to Litecoin, Sui experienced a sharp decline in early February due to liquidity withdrawals and broader macroeconomic factors, including the impact of Trump’s tariffs. Following this downturn, a correction phase began, which now appears to be nearing its conclusion.

Sui successfully closed above a key resistance level on the four-hour timeframe, which has now transitioned into a support zone. This development strengthens the bullish outlook by reinforcing upward price momentum. In the attached chart, this critical support zone is highlighted in orange.

Sui price target

At BITmarkets, we aim to provide comprehensive analyses that go beyond identifying market trends to include entry strategies and effective trade management. This approach helps traders achieve greater consistency in their trading performance.

As with any trade, placing a Stop-Loss order is crucial. In this scenario, the Stop-Loss can be positioned below the internal low, as indicated on the chart.

Additionally, it is vital to monitor whether the price holds above the newly established support zone. If it fails to do so, partially closing the position could be a prudent risk management move.

Beyond Stop-Loss placement, setting appropriate Take-Profit levels is essential. While several potential targets exist, the most significant ones align with Buy-Side Liquidity levels, where market orders are likely to be matched.

A key milestone for further price appreciation will be closing above the next resistance zone, marked in blue on the chart. Successfully surpassing this level would further validate the bullish momentum and increase the probability of continued upward movement.