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SUI Charts A Comeback: Inverse Head And Shoulders Signals Quiet Surge Ahead
After a period of pullbacks and choppy price action, SUI appears to be staging a technical comeback. Recent price movements have formed a classic Inverse Head and Shoulders pattern, often seen as a reliable bullish reversal signal. While the breakout hasnāt roared just yet, the structure forming beneath the surface suggests growing strength. Inverse Head And Shoulders Takes Shape On SUI Chart In a recent analysis shared on X, Cleanwater highlights a potential Inverse Head and Shoulders pattern forming on SUI. The move began with a dip from $3.74 on May 29th to $3.00 by May 31st, marking the initial correction. A strong bounce followed, pushing the price up to $3.39 on June 3rd, establishing the first neckline. Related Reading: SUI Meteoric Rise: Golden Cross Signals A Potential 380% Explosion The price then reversed again, dropping to $2.84 on June 5th, forming a key support zone and the āheadā of the pattern. However, a swift recovery brought SUI to $3.55 on June 10th, aligning with the neckline and reinforcing the setup. On June 13th, SUI saw one last dip to $2.91, which Cleanwater identifies as the final touch needed to validate the inverse head and shoulders formation. With the price now trading around $3.04, the setup hints at strong upside potential. According to Cleanwater, the Inverse Head and Shoulders pattern took shape with an initial dip, a slight recovery, and a second, deeper drop. A push to higher resistance followed this, then capped off by a final dip, shallower than the second and hovering near the level of the first. 4H And 1D Charts Align: Market Prepares For A Break The analyst also observed that a channel is forming on both the 4-hour and daily time frames, indicating that a breakout may be approaching. While itās difficult to predict exactly when a breakout will occur, the consistent price action within well-defined support and resistance zones shows growing strength. Sideways consolidation like this often precedes a significant move in either direction. Related Reading: Breakout In Sight? SUI Set To Test Crucial $3.5 Resistance With ATH In View In his personal view, Cleanwater leans bullish, suggesting thereās significant upside potential if momentum shifts in favor of the bulls. The repeated tests of resistance and support reinforce this view, hinting at a strong underlying structure. Though he canāt call the exact moment for a breakout, he believes the current setup favors those positioning early for a move. However, Cleanwater also expressed caution regarding the global economic environment, noting that broader news events have started to weigh on market sentiment. He sees the current range as a solid accumulation zone, but acknowledges that a bit more time is needed for the picture to fully develop. Featured image from Shutterstock, chart from Tradingview.com
Bitcoin Price Forms Descending Triangle Pattern Amid Israel-Iran Tensions
The recent escalation in tensions between Israel and Iran has added a new wave of anxiety in the global markets, causing investors to adopt a more cautious stance towards investing. At the same time, Bitcoinās technical chart is sending mixed signals that could lead to a breakout in either direction. After a failed attempt to reclaim $110,000 earlier this week, the price has now slipped below the 21-day moving average, but still above support at the 50-day moving average. This confluence of moving averages, coupled with a clearly defined trendline resistance, has brought Bitcoin into a tightening price structure of a descending triangle pattern. Related Reading: Crypto Bloodbath: Over $1 Billion Liquidated As Iran-Israel Tensions Erupt Descending Triangle With Tightening Range And Bearish Pressure According to a crypto analyst on X, Bitcoin is forming a descending triangle pattern on the daily candlestick timeframe chart. Interestingly, technical analysis rules state that the descending triangle pattern setup is typically associated with bearish breakdowns. The chart image accompanying the post shows repeated rejection from a downward-sloping trendline that began when Bitcoin reached a new all-time high of $111,814 on May 22. The second rejection was a lower high around $110,000 earlier this week. On the other hand, the base of the triangle has remained constant with a support zone around $102,000. The analyst noted that the 21-day moving average (21MA), shown in blue, is exerting downward pressure, acting as resistance, while the 50-day moving average (50MA), in green, is acting as a temporary support floor. As price action continues to narrow within this triangle move, the market is on the projection for a decisive move in any direction. Whether it breaks above the resistance or falls through the support will likely dictate the next major trend. However, if the descending triangle pattern continues to play out with lower highs and steady support, the breakout will lean more towards a downside breakout. Israel-Iran Tensions May Push Breakout Or Breakdown The ongoing tensions between Israel and Iran could be the spark that forces Bitcoin out of its current range. Notably, a wave of liquidations hit the crypto market on Friday as reports of an Israeli airstrike on Iran made the news. During periods of geopolitical instability like this, Bitcoin often trades in unpredictable ways. There are two possible outcomes for the leading cryptocurrency from here. It could act as a haven, or it could be sold off for liquidity. If the fear in traditional markets continues to increase, Bitcoin could break below the $102,000 support in the coming trading sessions, confirming the descending triangleās bearish implications. Related Reading: Billionaire Snaps Up $100 Million Of Trump Coin ā Details However, if bullish momentum returns, a break above the descending trendline could invalidate the bearish pattern and open the door for a retest of the $110,800 all-time high region. At the time of writing, Bitcoin is trading at $104,990. Featured image from Shutterstock, chart from TradingView
SUI Charts A Comeback: Inverse Head And Shoulders Signals Quiet Surge Ahead
After a period of pullbacks and choppy price action, SUI appears to be staging a technical comeback. Recent price movements have formed a classic Inverse Head and Shoulders pattern, often seen as a reliable bullish reversal signal. While the breakout hasnāt roared just yet, the structure forming beneath the surface suggests growing strength. Inverse Head And Shoulders Takes Shape On SUI Chart In a recent analysis shared on X, Cleanwater highlights a potential Inverse Head and Shoulders pattern forming on SUI. The move began with a dip from $3.74 on May 29th to $3.00 by May 31st, marking the initial correction. A strong bounce followed, pushing the price up to $3.39 on June 3rd, establishing the first neckline. Related Reading: SUI Meteoric Rise: Golden Cross Signals A Potential 380% Explosion The price then reversed again, dropping to $2.84 on June 5th, forming a key support zone and the āheadā of the pattern. However, a swift recovery brought SUI to $3.55 on June 10th, aligning with the neckline and reinforcing the setup. On June 13th, SUI saw one last dip to $2.91, which Cleanwater identifies as the final touch needed to validate the inverse head and shoulders formation. With the price now trading around $3.04, the setup hints at strong upside potential. According to Cleanwater, the Inverse Head and Shoulders pattern took shape with an initial dip, a slight recovery, and a second, deeper drop. A push to higher resistance followed this, then capped off by a final dip, shallower than the second and hovering near the level of the first. 4H And 1D Charts Align: Market Prepares For A Break The analyst also observed that a channel is forming on both the 4-hour and daily time frames, indicating that a breakout may be approaching. While itās difficult to predict exactly when a breakout will occur, the consistent price action within well-defined support and resistance zones shows growing strength. Sideways consolidation like this often precedes a significant move in either direction. Related Reading: Breakout In Sight? SUI Set To Test Crucial $3.5 Resistance With ATH In View In his personal view, Cleanwater leans bullish, suggesting thereās significant upside potential if momentum shifts in favor of the bulls. The repeated tests of resistance and support reinforce this view, hinting at a strong underlying structure. Though he canāt call the exact moment for a breakout, he believes the current setup favors those positioning early for a move. However, Cleanwater also expressed caution regarding the global economic environment, noting that broader news events have started to weigh on market sentiment. He sees the current range as a solid accumulation zone, but acknowledges that a bit more time is needed for the picture to fully develop. Featured image from Shutterstock, chart from Tradingview.com
Bitcoin Price Forms Descending Triangle Pattern Amid Israel-Iran Tensions
The recent escalation in tensions between Israel and Iran has added a new wave of anxiety in the global markets, causing investors to adopt a more cautious stance towards investing. At the same time, Bitcoinās technical chart is sending mixed signals that could lead to a breakout in either direction. After a failed attempt to reclaim $110,000 earlier this week, the price has now slipped below the 21-day moving average, but still above support at the 50-day moving average. This confluence of moving averages, coupled with a clearly defined trendline resistance, has brought Bitcoin into a tightening price structure of a descending triangle pattern. Related Reading: Crypto Bloodbath: Over $1 Billion Liquidated As Iran-Israel Tensions Erupt Descending Triangle With Tightening Range And Bearish Pressure According to a crypto analyst on X, Bitcoin is forming a descending triangle pattern on the daily candlestick timeframe chart. Interestingly, technical analysis rules state that the descending triangle pattern setup is typically associated with bearish breakdowns. The chart image accompanying the post shows repeated rejection from a downward-sloping trendline that began when Bitcoin reached a new all-time high of $111,814 on May 22. The second rejection was a lower high around $110,000 earlier this week. On the other hand, the base of the triangle has remained constant with a support zone around $102,000. The analyst noted that the 21-day moving average (21MA), shown in blue, is exerting downward pressure, acting as resistance, while the 50-day moving average (50MA), in green, is acting as a temporary support floor. As price action continues to narrow within this triangle move, the market is on the projection for a decisive move in any direction. Whether it breaks above the resistance or falls through the support will likely dictate the next major trend. However, if the descending triangle pattern continues to play out with lower highs and steady support, the breakout will lean more towards a downside breakout. Israel-Iran Tensions May Push Breakout Or Breakdown The ongoing tensions between Israel and Iran could be the spark that forces Bitcoin out of its current range. Notably, a wave of liquidations hit the crypto market on Friday as reports of an Israeli airstrike on Iran made the news. During periods of geopolitical instability like this, Bitcoin often trades in unpredictable ways. There are two possible outcomes for the leading cryptocurrency from here. It could act as a haven, or it could be sold off for liquidity. If the fear in traditional markets continues to increase, Bitcoin could break below the $102,000 support in the coming trading sessions, confirming the descending triangleās bearish implications. Related Reading: Billionaire Snaps Up $100 Million Of Trump Coin ā Details However, if bullish momentum returns, a break above the descending trendline could invalidate the bearish pattern and open the door for a retest of the $110,800 all-time high region. At the time of writing, Bitcoin is trading at $104,990. Featured image from Shutterstock, chart from TradingView