SUI Breakout Alert: Price Jumps 11%, Eyes $3.89 Target Amid Bitcoin Surge

Andrew Chen
SUI Network

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Key Takeaways

  • SUI surged over 11% after confirming an inverse head-and-shoulders breakout, now trading near $3.48.
  • Key support lies at $3.08 and $2.92, with bullish momentum aiming for $3.89.
  • RSI suggests near-term overbought conditions—watch for a retest before the next leg up.

SUI has flipped bullish again. After weeks of sideways consolidation, the token broke out with force—confirming an inverse head-and-shoulders formation and rallying over 11% in the past 24 hours. As Bitcoin breaks records above $116,000, SUI is riding the wave, targeting higher resistance levels with renewed momentum.

Inverse Head-and-Shoulders Ignites SUI Breakout

The breakout comes after a textbook inverse head-and-shoulders pattern formed over the last several weeks. SUI blasted through the neckline near $3.08, triggering strong upside momentum. At press time, the token trades at $3.48—marking a clear shift in trend after bouncing from the 20-day EMA at $2.92.

This pattern suggests a potential target of $3.89, measured from the neckline to the bottom of the head. With market sentiment turning bullish across the board, SUI has joined a growing list of altcoins breaking key technical levels.

Technical Indicators Turn Strongly Bullish

Momentum indicators support the breakout. The relative strength index (RSI) has surged above 50 and now approaches overbought territory—a typical sign of strong buying pressure. The 50-day simple moving average (SMA), recently reclaimed at $3.08, now acts as critical support.

The short-term exponential moving average (EMA) is also sloping upward, indicating growing bullish momentum. If SUI holds above the 50-day SMA, a push toward minor resistance at $3.55 looks likely—potentially paving the way for a move toward the $3.89 pattern target.

Key Support Levels and Potential Risks

While bullish momentum is accelerating, caution is warranted. On the 4-hour chart, the RSI is nearing overbought conditions, signaling a possible short-term cooldown. If sellers emerge, the first support to watch is the neckline zone at $3.08.

Also Read: SUI Price Breakout: Crypto Token Eyes 30% Surge Toward $4.12

A drop below that could see SUI revisit the 20-day EMA at $2.92, or even fall to $2.80 if weakness accelerates. A deeper correction toward $2.60 would cast doubt on the breakout’s sustainability. Still, broader market strength—driven by Bitcoin’s record run—offers tailwinds for continuation.

Is SUI Just Getting Started?

SUI’s breakout from a bullish chart pattern has placed it squarely on traders’ radars. With volume, momentum, and macro sentiment aligning, the $3.89 target seems within reach. But sustaining gains depends on holding above $3.08 and surviving potential short-term pullbacks.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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