SUI Tests Resistance Confluence of EMA 50, 100, 200 and a Bullish Flag, $5 Rally Soon?

Altcoin SUI tests resistance confluence of EMA 50, 100, and 200.

The asset is also testing the confluence of a bullish flag on its price chart.

A bullish rally to $5 SUI price might occur soon

Several altcoins have shown promising indicators for a significant rally in the altseason phase of the ongoing bull cycle. Presently, the price of SUI is still working its way to its previous ATH price. One analyst notices on the SUI price chart that SUI tests resistance confluence of EMA 50, 100, and 200, as well as resistance on a bullish flag signal. This hits at a possible $5 SUI price rally soon.

SUI Tests Resistance Confluence on EMA 50, 100, and 200

This bull cycle has yet to usher in the bullish altseason peak phase, a phase which should have occurred in Q1 of this year. This is because, based on historical patterns, the price of altcoins enters a bullish state in Q1 following a Bitcoin Halving year, thereby triggering that bull cycle’s altseason peak phase. This cycle, however, this pattern seems to have broken, a first for the crypto market and community

To highlight, analysts have marked this incident as the possible end to the 4-year bull cycle pattern. This pattern has acted as a promising blueprint that ensures structure to a growing crypto market. While some analysts wonder if this is a permanent change, others state that this is unique to this cycle and explain why. In detail, these analysts remind the crypto market of how the price of Bitcoin (BTC) set a new ATH this bull cycle before the Bitcoin Halving event occurred

Thus, they conclude that this eager and early BTC price pump led to a much-needed market correction. A correction that occurred after BTC set a 6-digit ATH price in January and went on until the start of Q2. During Q2, ETH price bottomed, BTC filled up most of its CME Gaps, leading to a much steadier possibility for price pumps in Q3, which is what most analysts are expecting now

Expectations for BTC to hit new ATH targets in the coming weeks ahead push the possibility for BTC to go as high as $170,000, based on bullish factors like price chart indicators and Global M2 money supply signals. Meanwhile, analysts are also just as eagerly expecting the price of altcoins to pump exponentially in the coming weeks ahead as well. First, it expects Ethereum (ETH) and other altcoins to reclaim their previous ATHs and then expect a greater rally to secue new and much higher ATH prices

SUI Tests Resistance Confluence on a Bullish Flag Signal

As we can see from the post above, SUI is one such bullish altcoin. It is unique this bull cycle as it has already set a new ATH at $5.35 about 6 months ago. Now, the analyst in the post above states that the price of SUI is testing the resistance confluence of EMA 50, EMA 100, EMA 200, and the resistance of the Bullish Flag. He says that this will lead to an easy pump and rally to the $5 price mark for SUI soon.