Here’s Why SUI At $3.61 Could Be the Calm Before A Parabolic Surge
SUI is currently trading at approximately $3.61, positioned within a bullish re-accumulation zone supported by a Bullish Price Range (BPR) and a significant Order Block (OB). This setup suggests a potential continuation rally, with key Fibonacci levels at 0.5 and 0.25 identified as targets for upward movement. A Market Structure Shift in April marked a bullish reversal, indicating institutional accumulation at strategic price levels. Recent low-volume pullbacks are viewed as healthy retracements, reinforcing the bullish outlook. SUI's fundamentals include its status as a high-performance Layer 1 blockchain by Mysten Labs, strong backing from investors like a16z and Binance Labs, and a growing developer ecosystem with increasing DeFi, gaming, and NFT projects. The SUI Builder Grant Program supports innovation on the platform. If SUI maintains its current OB/BPR zone, it is projected to have a 37% upside potential.
