SUI Consolidates Below Key Fibonacci Barrier as Analysts Watch for Break Toward $7

SUI trades near $3.59 resistance, forming a symmetrical triangle that signals reduced volatility and breakout potential.

Analyst Ali highlights a strong risk-to-reward setup, eyeing breakout targets at $4.26, $5.28, and $6.96–$7.00 zones.

GandalfCrypto notes an 84% drop and 380% rebound in one candle, showing extreme liquidation-driven volatility.

SUI is consolidating beneath a crucial resistance area, where tightening price action points to a potential decisive move. The token is trading just under the 0.618 Fibonacci retracement level at $3.5920, a region that has capped recent upward attempts

The formation of a symmetrical triangle, with converging trendlines visible since March 2024, indicates declining volatility and an impending breakout phase. Analysts suggest this compression could precede a sharp directional change as liquidity builds within the narrowing range.

Key Levels Define SUI’s Short Term Structure

The 0.382 level Fib level is at $2.8279, followed by the 0.5 retracement at $3.1871, and the 0.618 resistance at $3.5920. Further up, the 0.786 and 1.0 levels are marked at $4.2566 and $5.2899, respectively, while the 1.272 extension projects potential targets near $6.9687

Source: Ali on X

These zones show key reaction points where price historically consolidates or reverses. According to analyst Ali, the setup presents what he called a “perfect risk-to-reward” scenario, suggesting that positioning before a potential breakout could prove strategic

His view aligns with the upper structure of the wedge, which has repeatedly rejected rallies but now shows compression nearing its apex. A breakout above $3.60 could signal momentum expansion toward $4.26 and $5.28, with a possible extension into the $6.96–$7.00 zone.

Symmetrical Triangle and Imminent Volatility Shift

The chart’s symmetrical triangle shows reduced volatility, often preceding sharp market reactions. The lower ascending trendline has served as a consistent support since early 2024, indicating buyers’ presence. However, the descending upper boundary continues to suppress rallies, creating a narrowing wedge where both sides await confirmation.

The $3.18–$3.60 range stands as the key inflection area defining near term sentiment. A sustained move above $3.60 may confirm renewed bullish momentum, while any dip below $3.18 could lead to retests near $2.82 or $2.44.

Extreme Candle Activity

According to analyst GandalfCrypto, SUI recently experienced an unusually volatile trading candle. The token reportedly plunged by nearly 84% before rebounding roughly 380% within the same session

He described the move as “one of the wildest wicks of the year,” adding that “someone got absolutely obliterated today.” Such violent reversals often indicate liquidation driven volatility, indicating imbalances between leveraged positions

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