- SUI breaks out of a symmetrical triangle, signaling a potential move toward the $8 target.
- Chart patterns and rising volume confirm bullish momentum, with support holding above $4.12.
- Short liquidations above $4.35 could accelerate price toward resistance at $6.96 and $8.05.
SUI has moved above a key technical pattern after months of consolidation. The price has broken out of a symmetrical triangle on the daily chart and continues to gain momentum. Current levels suggest that the market may be preparing for a continued upward movement toward the $8 mark.
Technical Breakout and Chart Patterns Support Bullish Move
SUI has broken out of a symmetrical triangle pattern that developed between November 2024 and July 2025. This breakout occurred near the $4.30 level, a point close to the 0.786 Fibonacci retracement from the previous swing high.
According to an observation by analyst Ali Martinez, the breakout could mark the beginning of a larger upward trend. Fibonacci extension levels point to potential targets at $5.29, $6.96, and $8.05, which align with the measured move of the triangle. Support has been confirmed above $4.12, while $3.93 remains a key level to monitor for trend continuation.
Chart analyst Robert_Klondike also noted a cup and handle formation on the 12-hour chart. The cup developed gradually over two months, followed by a short pullback forming the handle. After breaking above $4.15, SUI has continued to post higher daily highs, strengthening the technical setup.
Volume, Open Interest, and Market Activity Rise
Trading volume and open interest data also support the current uptrend. According to CoinGlass, daily trading volume rose to over $7.5 billion, showing a 19.7% increase. Open interest increased by 12% to reach $2.73 billion, signaling active market participation.
The Long/Short Ratio stands at 1.04, with 50.98% of positions being long. This reflects a balanced but slightly bullish outlook. The current market cap is around $14.68 billion, and the circulating supply is 3.45 billion tokens.
If SUI moves beyond $4.35, short liquidations worth $25 million could trigger a sharper move. This scenario may create further buying pressure as automated liquidations are processed. The next resistance zones remain between $6.96 and $8.05.