SUI Approaches $4 Mark as Symmetrical Triangle Signals Potential 8% Breakout

SUI’s price movement is attracting technical analysis as it consolidates around $3.92, forming a symmetrical triangle pattern on the 1-hour chart. The converging trendlines indicate an imminent volatility surge, with analysts predicting an 8% price movement upon pattern resolution.

Trading volume has dropped 48.79% despite sustained price fluctuations, creating a compression effect within the narrowing price range. The cryptocurrency, with a $13.09 billion market capitalization, shows divided trader sentiment as market participants await clear breakout confirmation.

Technical analysts highlight this classic pattern presents a well-defined risk-reward scenario. The pattern’s projected price target suggests either rapid rejection or acceleration from current levels, with the descending resistance and ascending support lines serving as crucial decision points for traders.