SUI Price Target of $3.89 Set After Chart Pattern Confirmation

Bitcoin (BTC) hit a new all-time high, boosting select altcoins like Sui (SUI) by 11.3% to $3.41. SUI price surged from the 20-day EMA to break the 50-day SMA, with potential to reach $3.55 if bulls maintain control. A downside break could see SUI drop to $2.64 and $2.29.

The SUI/USDT pair completed a bullish inverse head-and-shoulders pattern, with moving averages favoring buyers. However, an overbought RSI could signal a pullback, with crucial support at the neckline. A rebound could push the pair to $3.50 and $3.89. A downside break may lead to $2.80 and $2.60 levels.

Read more at Cointelegraph: SUI Chart Pattern Confirmation Sets $3.89 Price Target