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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

SUI Holds The Line: Rounded Bottom Hints At 13% Breakout Setup

Godspower Owie
Godspower Owie
1 month ago
3 mins read
SUI

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SUI is showing signs of strength as it defends the $3.50–$3.60 support zone, carving out a rounded bottom formation. With bullish momentum slowly building, the altcoin eyes a potential 13% breakout toward $4.60 if the setup holds.

SUI Holds Firm At $3.60: Signs Of Early Recovery Emerge

According to a recent X post, analyst Gemxbt shared his perspective on SUI’s 1-hour chart, pointing to signs of a potential recovery after the market found footing at the $3.60 support level. According to Gemxbt, the price has managed to stabilize, currently consolidating around $3.64, which suggests that buyers are beginning to show interest after the recent dip. 

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1 month ago

Gemxbt further highlighted the moving averages, noting that the 5MA has crossed above the 10MA, a signal often associated with the early stages of bullish momentum. Adding to the technical picture, the Relative Strength Index (RSI) has settled around the neutral 50 zone, reflecting a balance between buying and selling pressure. This signals that the market has yet to tilt decisively in favor of the bulls or bears, leaving room for volatility as traders wait for direction. 

SUI
SUI building strength for a breakout | Source: GemXBT on X

Finally, he noted that the Moving Average Convergence Divergence (MACD) had recently shown a bullish crossover, another encouraging sign of upward momentum. However, he cautioned that volume remains low, which makes it premature to call this a confirmed trend reversal. For now, the setup looks constructive, but further confirmation is needed before declaring that a stronger rally is underway.

Rounded Bottom Formation Strengthens At $3.50–$3.55 Zone

In his recent 4-hour chart analysis posted on X, Ascend.sui drew attention to SUI’s current price structure, noting that the token is shaping a rounded bottom around the $3.50–$3.55 zone. This level has historically acted as a strong demand area, making it a critical foundation for any bullish momentum to build from.

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He explained that if this base continues to hold, it could serve as the launchpad for a significant upside move. Based on his projections, a recovery of more than 13% is possible, bringing its price near the $4.60 mark by late August, roughly within the next six days.

Ascend.sui also emphasized the strength of the bullish setup, describing it as a “stealthy formation” that could catch traders off guard. Still, he cautioned that confirmation is key. 

For the pattern to fully validate, SUI would need to reclaim the $3.70 level with conviction. Once that level is cleared, the breakout thesis gains stronger credibility, opening the path toward higher price targets.

SUI
SUI trading at $3.6 on the 1D chart | Source: SUIUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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