Article Details

SUI Price Eyes Breakout Toward $4 After Falling Wedge Pattern Confirmation

• SUI shows signs of recovery, gaining momentum after facing extended bearish pressure in recent days.
• Analysts highlight a breakout from the falling wedge, often suggesting a continuation toward higher price levels.
• Current support near the breakout zone is crucial, as holding above it strengthens chances of testing $4+.

SUI was in the headlines in recent days in the crypto markets as price actions signal an imminent reversal. Analysts observe that the asset continues to build constructive charting trends after recent declines, indicating new life in it. Analysts currently wait for its next direction, which may determine its short-term trend.

At the time of writing, SUI is trading at $3.50, recording a 24-hour trading volume of $1.48 billion and a market capitalization of $8.21 billion. Despite a 3.99% drop in the last 24 hours, analysts suggest the asset may be preparing for another upward move.

SUI Price Builds Momentum After Bearish Phase

According to insights shared by popular analyst Mark.eth, SUI has been establishing a positive price trend after having seen long bearish action over the last few days. The token, according to him, is positioning itself for what can be another higher high, keeping the trend alive seen in previous rallies of this token.

Also Read | SUI Price Surge: Bullish Reversal Signals Aim for $8.10 by 2025

SUI Breakout Signals Possible Rally Ahead

Adding to this outlook, Alpha Crypto Signal, another prominent analyst, explained that SUI recently broke out of a descending wedge pattern on the daily time frame. This technical formation also tends to indicate a probable continuation to the upside.

SUI even established a correction to retrace and retest the breakout zone, in which it has been holding support while remaining stable above its lead moving averages.

The analyst also noted that as long as the token is above this breakout point, there would still be a considerable chance of continuing upside momentum. It would take an impressive thrust from here to take the price through to the $4.00–$4.20 region, reinforcing bullish sentiment.

It would, nevertheless, weaken the pattern and bring the breakout into doubt if it does not hold this support in position. For now, market participants pay close attention to how the token behaves around current levels, as direction at this point may decide whether it continues to climb or takes another drop.

Also Read | Sui Bulls Defend Support, Eye Explosive Surge Toward $10

Also read: XRP Price Today: Price Support Confirmed At $2.90; Remittix At $0.10 Could See 30 Times Returns For Presale Holders