Recent market developments indicate a renewed interest in SUI’s price trajectory, with experts forecasting a significant upward movement in the near term. According to Elliott Wave analysis, SUI is currently entering Wave 3, a phase typically characterized by strong and sustained price advances. This suggests that by June, SUI could potentially reach the $10 mark. Since April 2025, SUI’s price movements have adhered to Elliott Wave principles, signaling a robust bullish trend in the cryptocurrency.
A crypto analyst shared insights on the platform X (formerly Twitter), highlighting that SUI has completed a five-wave impulse pattern from its April low, identified as Wave 1. This was followed by a healthy corrective Wave 2, which appears to be concluding or has recently concluded. The anticipated commencement of Wave 3, historically the most powerful segment, is expected to drive substantial price gains within a relatively short period.
Current technical assessments affirm that SUI’s price action aligns well with the Elliott Wave count. Wave 1 exhibited strong momentum and clearly defined sub-waves. Despite recent market volatility and the impact of the Sets hack, the correction seen in Wave 2 was both anticipated and necessary to consolidate gains and set the stage for the upcoming rally. Presently, SUI is valued around $3.64, but analysts project it could soon break through resistance levels at $4.70 and $5.20. Subsequently, the price may ascend into double digits by June. Projections during Wave 3 estimate a potential price range between $13 and $14, while Wave 5 could see values reaching $16 to $18.
Additionally, analyst Funky.Sui pointed out a recent MACD crossover, signaling a strong momentum shift. Historically, this indicator preceded a remarkable 723.15% price increase for SUI. Given the current patterns, a similar surge is anticipated, with prices potentially reaching $16 or higher, reflecting a growth exceeding 593%. The recent rebound from the $1.80 to $2 support zone, accompanied by a clean breakout above the Fibonacci 0.5 level, further confirms the end of the downward trend and the initiation of a new bullish phase.
In summary, market analysts are optimistic that SUI is poised to achieve a double-digit valuation by June. This outlook presents a significant opportunity for investors within the cryptocurrency market, suggesting strong upside potential in the near term.
Source: bitcoinist
