SUI Price Target Eyes $20 as Falling Wedge Repeats 2023 Rally
The SUI token's price chart is drawing attention from traders due to its resemblance to a 2023 pattern that preceded a massive rally. A falling wedge formation, which was followed by a 1,400% increase in 2023, is currently taking shape and has led to discussions about potential long-term price targets.
The current giant falling wedge started forming in January 2025, and the token's technical analysis points towards a $20 price target. This projection is based on the 1.618 Fibonacci extension level, which was also reached during the previous wedge breakout. The timeframe for reaching this target is estimated to be between 2027 and 2029.
For the SUI token to confirm a breakout, it needs to clear resistance and hold sustained momentum rather than just briefly exceeding the trendline. This requires strong trading volume and weekly closing prices as extra confirmation of a genuine breakout attempt.