Sui (SUI) price gained significant traction this past week, rising by over 6% amid increasing investor interest. The token has broken past the crucial $2.80 resistance level, sparking optimism for further upward momentum.
Market analysts are closely watching for a potential move toward the $3.00 mark, fueled by positive technical indicators.
On-chain data also reflects strong bullish sentiment, with DEX aggregator volumes climbing, signaling aggressive buying pressure.
This surge suggests growing confidence among traders and investors. As momentum builds, SUI appears poised for continued growth in the short term, making it a key token to watch closely.
Analyst Predicts $300 Breakout Could Fuel Rally
The price of Sui has shown a robust bullish rally, and now a crypto analyst has pointed to an uptrend that indicates the bullish trend of the crypto asset.
The analyst also believes that the token is currently recovering after breaking out of an important support level and re-conquering the price of $2.85, which was a drop zone.
The price has now reached the major support of $3.00, where the bulls will have to overcome to initiate the next big move in the asset.
Analyst indicates that although SUI is currently trading on a downtrend, once it manages to overcome the $3.00 price barricade, it has the potential to trigger a massive up rally. Such a breakout could trigger a 35% rally, which will take the token to the $4.12 area.
This possible increase shows that there is an increase in investor confidence and technical market strength.
Also Read: Can SUI Price Hit $10.74 or $27? Analysts Bold Predictions
Sui Price Surges Amid Growing Bullish Momentum
Sui is currently experiencing a bullish momentum, following a price breakout out of a long downward channel. Technical indicators are in line with bullish divergence, and trading volume has mirrored a significant increase, both of which support the argument of further increases.
The market sentiment is getting stronger and stronger, and the market is becoming optimistic, and the analysts have their eyes set on a re-emergence of the all-time high point.
The volumes and price pattern imply that all the stars are falling into line towards a mega pump. The hype is rising, and quite a number of people in the crypto world have termed the deployment of Sui as mega bullish.
However, in case of the latter scenario and significant support is still held, then the asset may be on the rise to a large degree in the upcoming sessions.
SUI Price Consolidates, Eyes Breakout Above Resistance
The SUI price held steady near the $2.87 mark after a minor intraday rise of 0.15%. The Sui price showed minimal volatility as it hovered between key support and resistance levels. Traders remained cautious, awaiting a breakout or further confirmation of direction.
SUI also had a solid horizontal support at the price of about $2.50 on the 4-hour chart. This level was already the level that caused a bounce in the past, so the downside was not allowed to take off.
The MACD line was positioned slightly above the signal line, indicating potential bullish momentum. However, the histogram remained close to zero, albeit with weak conviction.
The RSI was at 48.6 at a level near the neutral 50 point, showing an imbalance without buying pressure and selling pressure.
Price consolidation between $2.50 and $3.00 suggested indecision among market participants. A clear break outside this range could set the tone for the next move.
If bulls manage to push above $3.00, a rally toward $3.50 may unfold. Continued upward strength could even pave the way for a retest of the $4.00 mark. On the downside, a breakdown below $2.50 might expose SUI to further declines.
