Sui (SUI) is drawing attention from market experts after its price retraced deeply toward the 0.786 Fibonacci level while holding a long-term ascending trendline.
According to the crypto analyst Crypto Patel, this confluence of technical support often signals potential accumulation during a broader uptrend. Traders say such deep retracements frequently appear before the start of a new bullish cycle.
Crypto Patel also points to a repeating fractal pattern forming on SUI’s chart. The structure closely resembles the project’s 2024 accumulation phase, which preceded a powerful rally exceeding 1,000%.
If the pattern repeats, the token could be building the foundation for another strong expansion once resistance levels begin to break.
Also Read: SUI Climbs as Key Liquidity Zones Spark Rally Toward $1 Target
SUI Eyes $20 Target if Key $0.50 Level Holds
However, the forecast remains dependent on a crucial technical level. Experts have stressed the fact that SUI needs to remain above the $0.50 line to maintain the current market structure.
A close below the line on the weekly charts could mean the bullish fractal pattern is invalid, while a close above the line will mean buyers are still present in the accumulation zone.
Source: Crypto Patel’s X Post
As long as the structure holds up, the idea is that the momentum will resume. At the same time, there are a number of targets for the upside.
The initial resistance level is at $1.80, followed by $4.00. The strong market will then propel the price to $10. The long-term projections extend to $20, reflecting the possibility of a significant multi-cycle expansion.
Momentum Indicators Point to Decreasing Pressure
According to TradingView, the Relative Strength Index (RSI) for SUI is 41.19, which indicates neutral-bearish momentum for the token.
Since February, the token has been stuck around the 50% midpoint, indicating that the bears still have control over the market. The token is still above the oversold 30% but is stuck in neutral, indicating lukewarm interest in buying its value.
Source: TradingView
The MACD indicator reflects the recent bullish crossover, as the blue MACD line has moved above the orange signal line.
This is indicated by the recent change in the light green histogram bars, which show the deceleration of the downward pressure. However, the MACD lines are still below the zero line, indicating that the recent recovery trend is still in its early stages.
Also Read: How Sui Dominated February With ETF Adoption and Smart Infrastructure