Formation "Bowl with Handle":
o The chart shows a large reversal pattern "cup and handle", which is a bullish signal. This pattern indicates long-term growth potential. If the upper boundary of the cup, which is located at about $2.02, is successfully broken, a sharp upward movement can be expected.
o The figure's height target suggests upside potential to around $9.11, representing a gain of over 340%.
Support and resistance levels
Support levels:
âą $2.00 is a key resistance level that could become support after a breakout.
âą $1.70 is an important support zone, if there is a pullback, the price may find support here before a possible continuation of growth.
Resistance levels:
âą $2.50 is the next major resistance level that needs to be broken for the rally to continue.
âą $9.11 is the growth target based on the height of the cup and handle pattern.
Potential scenarios
1. Bullish scenario:
o If the $2.02 level is broken with volume confirmation, a sharp rise to $2.50 and higher is possible. The target at $9.11 looks realistic if the uptrend continues.
2. Bearish scenario:
o If $2.02 is not broken, a pullback to $1.70 or lower to test support is possible. A break of $1.70 could signal the start of a correction.
Summary
The "cup and handle" figure and the breakout of the key level $2.02 signal a possible strong price growth #SUI /USDT. However, it is worth considering the possibility of a short-term correction before the upward movement continues.
