Technical analysis of SUI:
It is developing as an Ascending Triangle, here is the analysis and estimated projection:
📈 Ascending Triangle (Technical Analysis):
The ascending triangle is generally considered a bullish continuation pattern.
It is characterized by:
Flat Resistance (Upper Line): The price repeatedly reaches the same resistance level. In the chart, this level is near 1.6463.
Ascending Support (Lower Line): The lows (valleys) of the price are getting higher, indicating that buyers are entering at progressively higher prices.
Implication:
This suggests that buying pressure is increasing, and a breakout above the resistance line is likely.
🎯 Price Projection (Estimate in One Hour)
The theoretical price projection after a bullish breakout of an Ascending Triangle is calculated by adding the maximum height of the triangle to the resistance line.
Identify the Height (H): The height is the vertical distance between the highest point of resistance and the lowest point of support within the formation.
Resistance (approx.): R \approx 1.6463
Lowest visible minimum (approx.): L \approx 1.5366
Pattern height (H): H = R - L \approx 1.6463 - 1.5366 = 0.1097
Calculate the Price Target (TP): The height is added to the resistance line at the breakout point.
Price Target (TP): TP = R + H \approx 1.6463 + 0.1097 \approx **1.7560**
Projection in 1 Hour: If a bullish breakout occurs in the next hour, the theoretical price target could be around 1.7560.
Risk Zone/Suggested Stop-Loss: An invalidation point (where the pattern fails) is usually a significant candle close below the ascending support or, conservatively, below the last minimum (the highest).#TrumpTariffs $BTC
