Raoul Pal Says SUI Price Going Much Higher, But Can it Reach $14?

Here's Why Raoul Pal Sees More Upside for SUI Price

SUI price has seen notable volatility over the past 24 hours. Initially, it surged to over $4.15 before retracing slightly, stabilizing at around $3.95. Despite this brief pullback, the coin recorded a 0.5% increase in daily performance. 

Over the past week, however, SUI demonstrated a 13.3% gain, and in the last 30 days, it rose by 2.4%. This consistent upward momentum reflects growing investor interest and signals a more substantial trend.

Analysts Highlight SUI’s Long-Term Bullish Trend

Analyst Raoul Pal recently shared a chart that marks a clear upward trajectory for the trading pair commencing from the year 2024. From August 2024 onward, this crypto has gained an astonishing 760%, landing it in what Pal calls the "Banana Zone." 

Source: X

This rise has been mirrored by a steady bullish trend moving between two blue trendlines that serve as predictable levels of support and resistance. Despite the clear bullish trend, many investors still overlook the potential, leaving room for further price appreciation.

The "Banana Zone" was the zone under which the altcoin found very significant support, starting its rally from here. The earlier a trend can be identified, the bigger the returns it would offer; case in point, a 760% increase since last year, notes Pal. 

This sort of rise makes a pause to reflect on how important it is to understand momentum within a market before the masses acknowledge it. While the gains are impressive, the token never made it to that level of ownership, further implying that most investors are just now entering the space, well after the initial opportunity was missed. 

Further Upside Possibilities with Clear Trend

Looking forward, according to Pal, the price may still hold significant upside potential to $14. Considering this, the coin would require a 251% rise to reach the target price of $14. The blue trendlines also suggest that the price may continue upward without usual signs of a reversal, with every indication of a clear, predictable trend supporting SUI as a great investment. 

Pal's previous comments also support this positive outlook. Looking back, about 3 days ago, he said that anyone who focused on top tokens like SUI has reaped huge profits.

 Among various cryptocurrencies, the altcoin has been the standout performer, with a 650% increase. Pal further emphasized the need to take advantage of such opportunities early, since there appears to be some room for growth left for the token as per the current trend. 

Technical Analysis Unveils Bullish Reversal Pattern

One more confirmation, standing in agreement with the view held by Pal, comes from CryptoBusy, having spotted a classical Inverse Head and Shoulder formation. Such a chart pattern is usually interpreted as a bullish reversal following a downtrend and means that price is ripe for an upward rally. 

Source: X

There are three major components that make up this pattern: left shoulder, head, and right shoulder, followed by a breakout above the neckline that confirms the reversal, triggering a strong move to the upside.

Currently, it is trading around $3.98 and nearing breakout levels that could mark further upward gains. If the breakout occurs, that will mark a rally for SUI price levels north of $4.00.