SUI is back in the spotlight as fresh buying pressure propels its price to new heights. Currently trading at $3.95, the altcoin has witnessed a 21.46% surge in the past 24 hours, accompanied by a significant 24-hour trading volume of $2.91 billion and a market cap of $13.2 billion. Over the past week, SUI has gained 7.82%, indicating growing investor interest and renewed momentum in the market.
The sharp rise in SUI’s price is a signal of increased demand, with traders and investors eyeing key resistance levels. After briefly dipping below $3.80, SUI quickly rebounded, suggesting that the asset could be on the verge of a breakout. With market sentiment turning positive, the question remains – how high can SUI go?
Technical Analysis: Breakout Above Key Resistance Levels
Prominent crypto analyst Emma has highlighted a bullish reversal pattern for SUI, marked by the breakout from an inverse head and shoulders formation. This classic technical signal is often a precursor to substantial upward momentum. SUI’s price has decisively surged above the neckline resistance, transforming previous highs into a newfound support zone.
$SUI just unleashed a powerful bullish breakout after confirming an Inverse Head & Shoulders pattern. Price is now consolidating above previous highs, preparing for the next leg up if momentum continues.
— Emma (@emmacalls7) May 8, 2025
• Entry Zone: $3.20 – $3.30
• TP1: $3.80
• TP2: $4.20
• TP3: $4.65
•… pic.twitter.com/iS6k9MJM8l
Currently, SUI is holding above $3.15, a key support range, as it consolidates gains and builds a base for the next leg up. Analysts are closely monitoring the accumulation zone between $3.20 and $3.30, considered a likely entry point for new investors. Profit targets are now set at $3.80, $4.20, and $4.65, with a conservative stop-loss placed just below $3.10 to mitigate downside risk.
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Outlook: Can SUI Sustain Its Bullish Momentum?
With SUI’s technicals favoring further upside, momentum appears to be firmly in the bulls’ camp. The confirmed inverse head and shoulders pattern not only signals a potential trend reversal but also garners attention from institutional investors, particularly when validated on higher timeframes.
While broader crypto market conditions remain sensitive to macroeconomic signals, SUI’s current setup aligns with a textbook breakout pattern. If the volume surge continues and support levels hold, SUI could soon be testing – and potentially breaking – its next major resistance at $4.65, solidifying its position as a top-performing altcoin in the current cycle.
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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