SOL, SUI, AVA Price Analysis: Will These Altcoins Rise Further in December?

Solana (SOL), Sui (SUI), and Ava (AVA) are navigating critical price levels as their technical setups signal both bullish and bearish scenarios.

While SOL struggles within a falling channel and faces resistance after a failed breakout, SUI shows promise with bullish continuation patterns. Meanwhile, AVA’s meteoric rise has pushed its RSI into overbought territory, raising the risk of sharp corrections.

Solana (SOL) Technical Analysis

SOL/USD Four-Hour Price Chart Analysis — A 10% Decline is Possible by December

Solana (SOL) continues to trade within a falling parallel channel, facing a correction after testing resistance near $235 on Dec. 13. This level aligns with the 0.5 Fibonacci retracement line, where sellers gained the upper hand, pushing prices lower.

The 200-period exponential moving average (EMA) on the 4-hour chart, currently near $223, offers interim support. A break below this level could intensify the selloff, potentially targeting the channel’s lower trendline near $200.

Conversely, a rebound from the 200-4H EMA may fuel a retest of the $230-$235 range. SOL’s short-term direction depends on whether buyers can reclaim momentum near current levels.

Meanwhile, SOL’s relative strength index (RSI) has dropped to 45, reflecting weakening momentum but avoiding oversold territory. This suggests room for further downside unless buyers step in.

SOL/USD Weekly Price Chart Analysis — Cup-and-Handle Breakout Hits Roadblock

Solana’s recent cup-and-handle breakout attempt has hit a roadblock at the 1.0 Fibonacci line near $272. This resistance has triggered a price correction, bringing SOL back to retesting its neckline support around $216.35, which previously marked the breakout point.

Such retests are common in technical analysis as price often revisits breakout zones to confirm them as support before resuming upward momentum. Holding above $216.35 could validate the bullish continuation pattern, potentially setting SOL up for further gains toward higher Fibonacci levels, including $434.

Failure to hold the neckline could invalidate the breakout, exposing SOL to deeper corrections. Immediate downside targets include the 0.786 Fib level near $215 and the 0.618 Fib level at approximately $170.

A breach below these levels could extend losses toward the 50-week EMA (the red wave) of around $152, a critical long-term support area.

Sui (SUI) Technical Analysis

SUI/USD Four-Hour Price Chart Analysis — Price Can Rise 10-15% in December

SUI/USD is consolidating within a bull pennant pattern, signaling a potential continuation of its recent uptrend.

Bull Pennants form when the price consolidates inside a triangle-like structure following a sharp price rally. They resolve when the price breaks above the structure’s upper trendline and rises to a level at a length equal to the height of the previous uptrend.

That said, if SUI breaks above the pennant’s upper trendline, the next upside targets could be around $5.32 and $5.50 by December’s end, depending on the breakout point.

However, failure to confirm the breakout may cause SUI to retest support levels near the pennant’s lower trendline or the 20-4H EMA at $4.42.

SUI/USD Weekly Price Chart Analysis — Bullish Reversal Breakout Underway

SUI has confirmed a breakout from an inverse head-and-shoulders pattern on its weekly chart, signaling a bullish trend reversal.

An inverse head-and-shoulders pattern forms when the price forms three troughs in a row atop a common neckline resistance. In doing so, the middle trough, called the “head,” is deeper than the other two troughs, called the “shoulders.”

As a technical rule, the pattern resolves when the price breaks above the neckline resistance and rises by as much as the maximum distance between the head’s lowest point and the neckline.

Applying the same rule on the SUI weekly chart suggests a potential target near $9.56, aligning with the 2.618 Fibonacci extension level. Looking short-term, the price is now targeting the 1.618 Fib line at around $6.22 as its next upside target.

Conversely, the near 79 RSI indicates overbought conditions, which could lead to interim pullbacks. Should it happen, SUI/USD will likely correct toward the 1.0 Fib line of around $4.00.

Ava (AVA) Technical Analysis

AVA/USD Four-Hour Price Chart — A Big Dump Incoming?

Ava’s price has jumped by 350% in the last 24 hours, soon after its addition to the reserves of travel management firm Travala. The cryptocurrency’s intraday upside move has taken its four-hour RSI to over 87, which hints at strong possibilities of sharp corrections next.

If profit-taking occurs, AVA’s next downside target appears to be around its 20-4H EMA (the purple wave), aligning with the $1.76 level by December’s end. That is down by over 40% from the current price levels.

AVA/USD Weekly Price Chart Analysis — Strong Correction Needed Before Bull Run

AVA’s weekly chart further indicates the potential of a strong correction phase after the RSI crossed 91 for the first time since July 2020. Back then, the price had crashed by over 90%.

The immediate downside target in a potential overbought correction is around $2.78, aligning with the 0.382 Fibonacci retracement line. Meanwhile, further selloff below the $2.78 level will likely bring the $1.87 downside target in sight.

Consolidating between the $1.87-2.78 range could neutralize AVA’s weekly RSI, raising the potential of a bullish continuation toward the cryptocurrency’s record high of around $6.60. However, a clear breakdown below this range will invalidate the bullish continuation setup.