• SUI surged 7.51% in 24 hours, reaching $2.16, with a trading volume $2.12 billion.
• Token consolidates between $1.82-$1.96, creating an HTF breakout pattern worth a potential $20 gain.
• Analysts are suggesting a first target of $2.40-$2.80, a second target of $3.10-$3.55, with strong bullish momentum.

Sui (SUI) is showing renewed strength in the market, climbing 7.51% in the past 24 hours to reach nearly $2.18. The token continues to gain popularity as analysts point out a potential large-scale breakout to $20.

Currently, Sui is trading at $2.16, a 24-hour trading volume of $2.12 billion, and a total market value of $7.91 billion. In the past 24 hours, SUI has moved up by 7.51% in value.

Sui Gears Up for Major Breakout Toward $20

According to a recent post by Crypto Patel, Sui seems to be forming a high time-frame (HTF) breakout structure with potential targets around the $20 mark. The analyst observed that Sui is ranging within the $1.6 to $2 level, a strong re-accumulation trend.

Patel emphasized that a decisive breakout from this structure could ignite a parabolic rally, pushing token into a significant upside extension phase. The constricting range, along with its steady support level within the current zone, indicates a strong build-up of bullish strength, setting the stage for a potentially explosive move.

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SUI Approaches Key Support Zone $1.82–$1.96

SUI has recently entered a crucial supporting level between $1.82 and $1.96, a region that has always been associated with a strong buying interest in the past. The token is consolidating near the upper boundary of this region, implying a continuous accumulation process. If so, it can be considered a long entry point.

The suggested entry range lies between $1.82 and $1.96, with a stop loss placed below 1.75. The first target for the profit is set between $2.40-$2.80, and the second target is anticipated to be within the range of $3.10-$3.55. This configuration embodies an excellent risk-to-reward ratio, especially in the case of a sustained increase in trading volume and price momentum.

The technical charts imply that a firm breakout from the current range could lead to a parabolic price escalation. Observing strong candle closures or rising volume close to the support area may be the factors that most certainly indicate the bulls’ ​‍​‌‍​‍‌continuation.

Therefore, as the market’s momentum gains strength, tokens can be on the cusp of a strong breakout towards the double-digit mark, as per the long-term breakout level of $20. 

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