SUI Price Eyes $10 Peak as Analysts Confirm This Pattern
The post SUI Price Eyes $10 Peak as Analysts Confirm This Pattern appeared on BitcoinEthereumNews.com.
SUI price is drawing attention once more due to technical shaping up, an expanding ecosystem, and news about ETFs. The SEC has recognized the filing by 21Shares for a SPOT SUI ETF, which proves the asset’s potential among institutions. In addition, analysts are expecting the breakout to happen closely, sending SUI price to $10 once the market moves above its main support. SUI Price Forms Bullish Wedge Toward $10 SUI price currently trades near $3.22 after bouncing from a wedge support formed on the weekly timeframe. James pointed out a chart that included targets based on Fibonacci, saying that the rising wedge was still in place at $8 and $10. According to him, it could be the last moment investors should buy before a renewed price rise. Source: James, X The pattern reflected symmetry across two legs, with both showing 1.618 extension zones near $10. Price has stuck to major support and resistance levels, and momentum indicators are still showing neither positive nor negative trends. The upper resistance for the wedge can be located at $4.12. He pointed out that past $4.12, Bitcoin could repeat the explosive first leg of the uptrend. The bullish pattern is intact so long as the price is above $3.00 on the weekly close. SEC Confirms 21Shares SUI ETF Filing On June 4, Matteo stated that the SEC had acknowledged that 21Shares had officially filed for a spot SUI ETF. Even though it hasn’t happened yet, getting this approval boosts the argument for the investment. It follows the same process seen in recent approvals for BTC and ETH ETFs. With the ETF filing, investors enjoy easier access compared to those with self-custody. Additionally, it suggests that SUI is gaining recognition as a regulated type of asset class. Analysts say that this development could alter the…
