SUI’s Consolidation Near Key Support as Breakout Targets Loom

SUI is currently consolidating below a key Fibonacci support level near $3.59, indicating reduced volatility and potential for breakout activity. Analysts are eyeing targets at $4.26, $5.28, and $6.96-$7.00 as SUI’s price action indicates increased momentum. The token is trading just below the 0.618 Fibonacci retracement level at $3.5920, a zone previously acting as resistance to upward movements. This consolidation follows a symmetrical triangle formation since March 2024, signaling an impending breakout. Key levels of support and resistance are forming near key Fibonacci ratios, providing crucial insights into the token’s short-term price action.