Sui (SUI) is entering what analyst Crypto Patel describes as a "smart money zone," with the token trading around $1.28 amid a consolidation pattern that could precede a significant price movement if buyers push the asset above the $2 resistance level.
What Happened: Analyst Spots Accumulation Signal
Crypto Patel posted analysis on a weekly chart showing SUI's long-term ascending channel remains intact. The analyst noted that price action near trendline support suggests potential accumulation, with a bullish order block identified between $1.15 and $0.80.
"This is how big trends are built, slowly, then suddenly," Crypto Patel wrote. "Liquidity is cleared, demand is active, and patience gets rewarded."
The token faces resistance at $2.00 while maintaining support near $1.50. The analyst projected targets of $5, $10, and $20 if a breakout confirms.
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Why It Matters: Compression Phase May Signal Expansion
The current price structure reflects a tightening range between buyers and sellers, a pattern that often precedes decisive moves. Sustained volume expansion above $2.00 could drive the trend toward $2.50, while failure to break resistance with shrinking volume increases the likelihood of a retest at $1.50.
Should that support level fail, price could decline toward $1.20. Momentum indicators currently show a neutral state, reflecting market indecision.