The crypto markets initiated the weekly trade with decent gains while Bitcoin price surged above $87,000 and attained significant momentum. The other tokens also surged, but the intensity was lower compared to Bitcoin. Meanwhile, the SUI price is attracting massive volume, which suggests the investors could be extremely bullish about the upcoming price action. Therefore, the SUI price rally is set to demonstrate one of the most bullish cycles and outperform the popular altcoins very soon.
The SUI price has been displaying powerful momentum ever since it gained back the $2.2 zone with a notable rise in volume. The price rebounded from the yearly lows, which has also been a strong support of a bullish pattern. Therefore, a rise from the current consolidation is expected to revive a strong upswing in the SUI price rally. With this, the potential target for the altcoin could be 35% above the current levels.
But the question remains whether the bulls may manage to sustain above the gains or whether the upswing will be a short-lived rally.
As seen in the above chart, the SOL price is trading within a falling wedge and seems to have reached the apex of the consolidation. The dropped volume is recovering, hinting towards a rise in trading activity. On the other hand, the +Di & -Di are about to undergo a bullish crossover, which may turn the DMI bullish. With this, the SUI price is believed to break above the pattern and set up a fine upswing.
The bulls have been constantly trying to keep the momentum elevated, but somehow the bears have managed to keep the price restricted below the range. Now that the volume is recovering, one can expect a fin breakout with the possibility of sustained growth. Therefore, the SUI price is gaining momentum for a breakout, and when this happens, the price is set to reach $4 initially.
