SUI Jumps 20% in a Week - What's Next?

As part of our commitment to delivering objective analyses that provide real value to your trading decisions and portfolio management, today’s focus is on the SUI token.

In this analysis, we will examine the key factors shaping its price action and provide insights for traders who either hold a position or are considering entering the market.

Our goal is to help you stay ahead of market trends and make informed decisions.

Daily time frame analysis

SUIUSD - 1 Day Time Frame

A detailed analysis of the SUI token’s technical parameters reveals a well-defined and extensive support zone, aligned with bullish market structures.

This creates a favorable setup for traders who entered at lower price levels, as they can confidently ride the bullish trend without immediate concerns about a major bearish correction.

However, for those who have yet to enter the market, a patient approach might yield better results. Waiting for the price to dip below the 0.5 level would allow traders to buy in the Discount Zone, a strategy that typically offers a more favorable risk-to-reward ratio.

While entering now is possible, given the strength of the support zone and the prevailing bullish momentum, the current high valuation carries risks that must be carefully considered.

SUI price target

For risk-averse traders, it’s advisable to wait for a short-term correction into the Discount Zone on a lower timeframe. This approach provides an additional layer of confirmation regarding bullish momentum, reducing the risk of premature entries based solely on broader market trends.

Should such a correction occur, and the price action confirms a favorable setup, we will promptly provide an updated analysis with optimal entry points for your consideration.

In the meantime, for those already holding positions, monitoring the support zone closely is key. It offers a robust foundation for maintaining your trade as long as bullish structures remain intact.

Stay tuned for updates, and as always, ensure that your trading decisions are backed by a solid risk management plan to optimize outcomes and mitigate potential downsides.