SUI Price Analysis: Descending Triangle Signals Potential Surge to $5 Amid Market Volatility

Sui (SUI) rose 3% today as trading volumes increased, bucking broader market uncertainty driven by geopolitical tensions in the Middle East. The crypto market started the week positively, with investors focused on the Federal Reserve''s upcoming FOMC meeting—though rates are expected to remain unchanged. Market participants are closely watching Chair Jerome Powell''s remarks for insights into future monetary policy.

Current sentiment remains neutral, with the Fear and Greed Index at 52, but underlying volatility risks persist—particularly from ongoing U.S.-China trade negotiations. sui faces challenges after a 20% monthly drop, with daily transactions declining sharply following its inability to reclaim the $5 level. Technical analysis shows a descending triangle pattern forming on daily charts, with strong support at $2.80. This pattern often precedes bullish breakouts, indicating potential for another rally toward $5 if buying momentum builds.