SUI Targets $11.50 Breakout as Bullish Wave Pattern Emerges

SUI is forming a textbook Elliott Wave pattern, with its fifth wave aiming for a decisive breakout above the $11.50 resistance level. The asset has shown explosive growth in earlier phases—Wave 1 surged 505% and Wave 3 skyrocketed 1,050%—setting the stage for a potential parabolic move.

Currently trading at $2.92 within a falling wedge formation, sui displays a classic bullish continuation signal. Shifting market sentiment from bearish to bullish has boosted altcoins, with SUI posting 1.2% daily and 8.56% weekly gains despite a 16% drop in trading volume to $590.9 million.

Analyst Bitcoinsensus highlights the coin's adherence to technical principles, with the completed Wave 3 delivering over 1000% returns. The $10.07 billion market cap asset now faces a critical juncture as institutional interest aligns with favorable chart dynamics.