- SUI confirmed a breakout above $2.44 with rising volume and strong momentum.
- Technicals show a bullish reversal with support at $2.07 and a target near $3.00.
- Inverse head and shoulders pattern completed, marking SUI’s shift into bullish territory.
SUI price action confirms a breakout above critical resistance, ending a prolonged consolidation near $2.00. Rising trading volume and a supportive technical structure point to a potential bullish trend reversal as the price advances toward higher resistance zones.
SUI Confirms Momentum With Strong Breakout Structure
The SUI chart reveals a clear shift from an extended downtrend to a confirmed breakout. Price reclaimed key resistance near $2.44 after forming higher lows, with increasing volume and upward momentum supporting the bullish case.
Price surged from the $2.00 zone, which acted as a strong support during multiple tests. The market held above this level, resulting in a decisive rally that pushed the asset to a local high above $2.88 in recent sessions.
Source: Michael van de Poppe
Michaël van de Poppe added his perspective, describing the breakout past $2.44 as a trigger that disrupted the prevailing bearish structure. With RSI nearing overbought levels, he anticipates a potential bullish retest of $2.44, now a key support. Van de Poppe’s outlook suggests a push toward all-time highs could be on the horizon.
The broader market transitioned from a descending trend into an accumulation range ahead of the breakout. Volume surges validated the shift, confirming renewed bullish momentum and growing market participation.
Inverse Pattern Completion Validates Reversal
Ted Pillows provided a technical analysis of an inverse head and shoulders pattern that developed over several weeks. The breakout above the neckline at $2.07 completed the rising formation, with price respecting the level and flipping resistance into support.
Pillows also highlighted a breakout candle that sent the price above $2.45, following a well-formed right shoulder near $1.90. He noted institutional confidence, including a filing by Canary Capital for a SUI spot ETF, as further reinforcement of the growing bullish sentiment.
Source: Ted Pillows
With SUI now trading near $2.88 and targeting the $3.00 resistance, the chart continues to reflect strength. The asset remains in a favorable position, supported by structural levels, momentum, and volume that all align with the ongoing bullish trend.
