🚀 SUI MACD Flashes Bullish: 400% Price Explosion Imminent?

Technical indicators scream buy as SUI's MACD crossover hints at a potential mega-rally. Traders are stacking positions ahead of what could be the altcoin's most explosive move yet.

When the MACD lines flip bullish after consolidation, history shows fireworks follow. This isn't just another fakeout—the chart setup mirrors previous 4x runs before liftoff.

Of course, in crypto-land, 'technical analysis' is just astrology for finance bros... until it works. Then suddenly everyone's a chart genius.

SUI Market Structure Signals Potential Breakout

In an X post on July 11, Ted Pillows shares an insightful price analysis on the SUI market identifying a series of technical signals that precedes explosive market gains. These include a well-defined price movement within a well-defined ascending channel on the weekly timeframe, combined with an imminent bullish MACD crossover.

In analyzing the ascending price channel, SUI has shown a strict adherence to both resistance and support zones. Notably, a healthy correction from its previous highs NEAR $5.00 resulted in the altcoin finding support around $2.50 before initiating another rebound. As the altcoin presently consolidates, historical data indicates a potential return to the channel upper’s boundary between $10.50 and $13.00. However, the major strength in Pillows’ bullish thesis is the MACD setup that shows an impending bullish crossover i.e. when the MACD line (white) crosses above the signal line (orange), often interpreted by traders as an early sign of trend reversal or strengthening bullish momentum. Historically, the last time a decisive bullish MACD cross occurred on the weekly chart, it induced  a six-month rally that delivered over 400% in gains. Going by this precedent, SUI bulls may be eying a potential price target of $13.76 by end of 2025.

SUI Market Overview

At the time of writing, SUI trades at $3.42 reflecting a 1.16% decline in the past 24 hours.  Meanwhile, the market trading volume is up by 17.68% and valued at $1.95 billion. On a monthly scale, SUI has recorded a marginal loss of 0.11%, suggesting that bearish forces still maintain a subtle grip on the market. Nevertheless, data from CoinMarketCap shows the Sui community remains bullish on the altcoin’s future. Contributors to this market optimism includes the potential of SUI spot ETF following applications by prominent asset managers such as Grayscale, Canary Capital and 21 Shares. Meanwhile, the potential of an altseason remains valid amidst continuous speculations by market analysts. As earlier stated, SUI’s strong price history and growing recognition places the cryptocurrency as a major frontrunner in any altcoin market run.