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In a recent TweetFirst analyst Crypto Crypto Master 786 highlighted a promising configuration for SUL, currently exchanging about $ 3.61. According to the analyst, the price is comfortably in an area of the key bullshit, supported by both a bullish price range (BPR) and a significant order (OB) price range.
This positioning constitutes a basis for a textbook for a potential continuation rally. With the graph that aligns higher objectives, Crypto Master 786 indicated the levels of Fibonacci 0.5 and 0.25 as key areas to be looked at for the next leg.
Technical insights for an increase
Further abandon his analysis, the analyst has deepened several key technical intuitions that support a bullish perspective for SUL. Firstly, he indicated a movement of the market structure (CH) that occurred in April, describing it as a critic “change of character” that marked the beginning of a bullish reversal.
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Has also applied concepts of intelligent money, observing that both the blocking of the order and Bullish The price ranges of price are currently in estate. This behavior, explained, often reflects institutional accumulation, since the “intelligent money” tends to load positions to strategic price levels before an important move takes place.
By adding to the bullish case, he observed a confluence of fibonacci, in which the objectives projected upwards align perfectly with the levels of Fibonacci 0.5 and 0.25, areas that also coincide with the historical supply areas.
Finally, his observation of the volume revealed that the recent low volume pullbacks are considered healthy retacings rather than that bearish exhaustion. Together, these technical factors suggest that it could be impulse on a rise to rise.
Because on it also has a fundamental force
The Crypto Master 786 has also gone beyond highlighting several key fundamental factors which, in its opinion, could strengthen the promising technical configuration of Sul and the long -term perspectives. On the front line there is the state of on as a high performance blockchain at level 1 developed by MySten Labs, with scalability, speed and low transaction commissions that make it very attractive both for developers and for users.
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He also underlined the strong support of Sui high -level investors, including names such as A16Z, Jump Crypto and Binance Labs, reporting strong institutional Trust in the potential future of the project. In addition to the funding, he underlined the rapid growth of the ecosystem of the Sulla developers, noting the growing number of Difi projects, of the game and NFT launched on the network.
In addition, the building subsidy program is actively promoting innovation, providing support And resources for teams that are based on the platform. The analyst ended by saying that on it is positioned for a strong move if it contains the current OB/BPR area. With intelligent signals of money, aligned technicians and solid foundations, he sees a high probability oscillating game with a upper potential of 37%.
In the foreground image by Adobe Stock, TradingView.com graphic