SUI retests the key $2.23 level: Will there be a breakout?

SUI has recently sensed the rise of price action, after retesting the neckline of the Cup and Handle pattern, a key level from which significant movements can begin. This neckline acts as the main support zone, which, judging by a recent retest, envisions the potential of the market to create a new bullish trend. If support remains valid, we could see SUI break through, which could give it higher targets immediately. Investors are keeping a close eye on this critical level for further confirmation.

The Cup and Handle model is widely accepted as a model that continues to rise in price and the neckline is strengthened in reliability with such a retest. According to the chart, a large amount of upward price movement has occurred in SUI; if successful, a strong bounce from this support level could set the stage for a new ATH in 2025. Therefore, for now, this setup offers bullish prospects for the asset if the pattern plays out as predicted. Neckline support marks an important turning point for SUI After forming a cup shape with bullish price action, SUI has seen quite a bit of handle formation in the short term. This neckline, also known as horizontal resistance at $2.23, has also been retested recently. This zone is marking a very important decision point that SUI must address by continuing to rise or be denied entry into consolidation. If the asset can hold above this neckline, the chances of a successful breakout will increase many times. In addition, we have another technical setup supported by actual consolidation that creates momentum for potential progression. The recent pullback towards the neckline becomes a regular retest, thus allowing players looking for confirmation of a breakout with SUI fusion on the neckline. Elevated bullish price action will be strongly supported by resounding optimism in the market during a retest. Medium-term outlook and price target of SUI The medium-term outlook for SUI is bright, with strong signs emerging to support a trend reversal. With the current support sustained, SUI could break through its recent highs, heading for new price levels. Analysts are eyeing the $3.50 price zone, which, upon breakout, will be where the next resistance is likely. Therefore, sustained movement above this resistance level will confirm that the bullish trend is currently underway and open up space for more severe price increases Plus, other cryptocurrencies need to lessen their influence on SUI's dynamics. This means that if Bitcoin and Ethereum remain strong, they could increase investor confidence in other altcoins like SUI. Therefore, not only SUI needs to be closely monitored but also broader market conditions. Conclusion: Key Levels to Watch for SUI Price Movement In short, the re-examination of the neckline in SUI's Cup and Handle model paves the way for a potential breakthrough. Investors will need to pay close attention to the $2.23 support level to see where the asset will head next. If we can hold this support level, we could see SUI rise sharply to new highs. Therefore, traders are advised to remain vigilant as the price moves.