Key Takeaways:
- SUI breaks out of ascending triangle, trading at $3.02 with a 13% weekly gain.
- Cup and handle formation suggests a potential move to $6.
- Momentum and futures data support continued bullish momentum.
SUI, a rising star among altcoins, is showing strong upward momentum in early July. Trading at $3.02 with a 4.34% daily gain and 13% rise over the week, the token’s performance is drawing attention from traders and analysts alike. With a market cap of $10.4 billion, SUI is rapidly climbing the ranks of top-performing cryptocurrencies.
Breakout Above $3 Confirms Bullish Momentum
SUI’s latest rally comes after successfully breaking out from an ascending triangle pattern on the 4-hour chart. The token had consolidated between $2.3 and $2.4, but has since surged past resistance in the $2.9–$3.1 range. This breakout validates bullish forecasts and has ignited a wave of renewed investor interest.
Technical analysts are closely watching for a move toward $3.74, which represents a key historical resistance level. The increase in trading volume and the bullish breakout pattern support this target, with many traders already going long on SUI.
$SUI confirmed this ascending triangle on 4h and after a little retest, we are back with green trend bars
— Trade4ddict (@Trade4ddict) July 3, 2025
Chart looks very bullish. I already entered a long position, and I'm targeting the $3.74 top
But I will try to follow the trend higher if possible pic.twitter.com/DuvPHarjEC
Cup and Handle Pattern Hints at $6 Price Target
Adding to the optimism is the emergence of a cup and handle pattern, widely considered a bullish continuation signal. SUI recently broke above the handle’s descending channel, a move that could confirm the next major leg upward.
If the pattern holds, analysts forecast an upside of up to 107%, bringing the price near $6. This potential aligns with historical breakout moves and reinforces the possibility of SUI reaching new all-time highs.
Indicators and Open Interest Support Bullish Outlook
Momentum indicators are backing the bullish case. The Relative Strength Index (RSI) has climbed above 50, indicating increasing buying strength. Additionally, the Average Directional Index (ADX) is falling, a sign that the recent downtrend has lost steam.
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Open interest data from CoinGlass shows a 6% rise in the last 24 hours, reaching $1.35 billion, suggesting growing confidence among futures traders. A long/short ratio of 1.01 and rising funding rates further imply that the market sentiment is leaning bullish.
SUI’s breakout from key technical formations and surge in open interest suggest that the current rally may still be in its early stages. With chart patterns projecting a price of $3.74 in the short term and $6 in the medium term, all eyes are on how the next candles close.
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.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
