SUI Crypto Market Structure Back to Bullish: Is SUI Headed for $5 Now?

Sui crypto token reverted to a bullish setup with clear delineations of Market Structure Breaks (MSBs) after a sneaky liquidity grab.

The analysis revealed a bullish trend, indicated by the latest MSB, suggesting a potential rise in SUI prices towards the $5 mark.

SUI price found strong support around $3.00, marked by a deep liquidity grab area, suggesting accumulation before a price ascent.

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Following this, the price trajectory formed two major MSBs, highlighting a shift from lower levels toward higher structural baselines.

Notably, the first MSB around $3.00 propelled the price upwards, setting a resistance-turned support level that held on subsequent tests.

SUI/USDT hourly chart | Source: Trading View

A second, higher MSB followed, pushing the price towards $3.50. Each MSB indicated a pivotal change where buying sentiment overcame selling pressure, potentially pointing to further upward movement.

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If this level holds, it may confirm the bullish market structure and potentially lead to a further price increase towards $5. This is primarily because traders and investors could continue to show increased confidence in SUI’s market strength.

This setup provides a promising outlook for SUI, aligning with broader crypto market recoveries.

The Short Term Bubble Risk Signal Potential Upturn

Additionally, SUI’s Short Term Bubble Risk Indicator indicated a noteworthy phase in its market dynamics. It signaled a potential upturn following a cooling-off period.

The Short Term Bubble Risk Indicator quantified the potential overvaluation risk based on trading behavior and price spikes. It peaked above a value of 2, signifying an imminent bubble pop.

Historically, peaks correlated with the SUI crypto price approaching $2.00, followed by a sharp decline as the bubble indicator suggested excessive market hype.

Recently, the risk indicator receded below critical levels, now hovering around 2.06, indicating that the initial overvaluation concerns have subsided. This typically discourages speculative trading and stabilizes the price.

During this period, SUI retraced to a supportive $3 level, confirming the bubble pop and establishing a robust foundation for recovery.

SUI short-term bubble risk | Source: IntoTheCryptoverse

As the bubble risk diminished and market sentiment stabilized, SUI’s price exhibited resilience and potential for growth. The decreased risk levels suggested that SUI could be gearing up for a targeted run towards the $5 mark.

Such movements are often backed by renewed investor confidence and balanced market participation. They also lack the speculative frenzy indicated by prior high-risk levels.

This setup further meant that SUI was positioned for a possible bullish phase, provided the market maintains its current stability and investor interest continues to revive.

Sui Crypto Only 12.8% Down

Again, SUI crypto continued to show market resilience, as indicated by the recent analysis of its drawdown from the all-time high (ATH).

As of press time, SUI’s price was only 12.8% below its new peak of $3.9, signaling a robust bullish trend within the market.

This minimal drawdown highlighted its strong recovery momentum and potential for sustained growth. The past months illustrated a series of recoveries and corrections, with the drawdown reducing sharply in recent times for Sui crypto.

SUI percentage drawdown from ATH | Source: IntoTheCryptoverse

The pattern suggested that Sui crypto has not only recovered swiftly from dips but also managed to sustain near its ATH levels. The behavior was indicative of solid investor confidence and a bullish outlook among market participants.

Moreover, the drawdown chart aligned closely with the price line, reflecting that the price had been consistently near its upper levels, even with market fluctuations.

This stability near the ATH was a strong indicator of SUI’s potential to maintain or even exceed these levels moving forward.

The network’s performance, coupled with a reduced drawdown percentage, positioned Sui favorably in the crypto market.

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