Analyst Predicts SUI Will Reach Solana's Market Cap as Sui Chart Shows Bullish Pattern

SUI has been a hot story, and even though the price cooled down a bit this month, it remains one of the best-performing altcoins.

A popular crypto analyst has his sights set on SUI, predicting that the Layer-1 token will reach Solana's market cap this bull cycle.

Analyst: SUI Chart Shows Bullish Pattern, Poised to Hit Solana’s Market Cap After a slight dip in price this month, SUI has remained one of the best performing altcoins in the market. The SUI price reached an all-time high on October 14th of around $2.35, before pulling back to current levels slightly above $2.

Analyst “LEO” shared a viral SUI chart last night with his 5k followers on X, formerly Twitter.

The SUI chart reveals a clear cup and handle pattern, which usually signals the end of a downtrend and the beginning of an upward movement. The cup formation shows a rounded bottom, suggesting a gradual shift from bearish to bullish sentiment during a lengthy consolidation phase. Following this, the handle appears as a smaller dip after the initial upward trend, indicating a brief consolidation before a potential breakout.

The SUI price has successfully broken above a key resistance level, which is the previous all-time high zone. A descending trendline that previously acted as resistance was also breached, adding to the bullish case. After breaking above this resistance zone, the price retested it as support, with buyers showing strength at these levels.

Comparing Market Caps: SUI vs. Solana The SUI price action shows a smooth upward trend from around $0.40, steadily increasing to current levels near $2. Solana's market cap currently stands at $72 billion, while SUI's market cap at the time of writing is $5.2 billion.

The analyst highlights SUI's recent break of its all-time high and subsequent support retest, noting that there are no similar patterns currently visible in the top-20 cryptocurrencies. LEO predicts that, based on the current settings, SUI can reach Solana's market cap this bull run.

The rounded bottom formation and a steady handle development suggest continued strength in the current trend. The analyst's chart indicates potential for further upward movement, based on the successful completion of these technical patterns.

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