Sui (SUI) is on a remarkable upward trajectory, exhibiting strong bullish momentum. On December 12, it surged to a new all-time high of $4.91, fueled by a 30% gain over 24 hours, making it one of the top-performing digital assets in the market.
Despite a 4.5% pullback in the last 24 hours, SUI’s bullish trend remains intact, drawing comparisons to some of the most explosive rallies in cryptocurrency history, including Solana’s (SOL) meteoric rise in 2021.
Notably, an analysis by TradingShot, a prominent technical analysis firm, highlights a striking resemblance between Sui’s current price action and Solana’s breakout pattern in 2020-2021.
The analysis points out that Sui’s ongoing “Channel Up” formation mirrors the early phases of Solana’s parabolic rise.
Technical analysis – Channel up formation driving gains
On the one-day chart, SUI has been trading within a well-defined Channel Up pattern since its August 5 low.
Each bullish leg within this channe
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