- SUI eyes breakout above $3.40, with analysts targeting $4.00 as the next resistance zone.
- Technicals show bullish momentum, supported by a golden cross and rising daily active addresses.
- On-chain metrics strengthen outlook as TVL climbs 50% since April and funding rates remain positive.
SUI is showing signs of strength following recent technical developments and increased market activity. Traders are closely monitoring the $3.40 resistance level, as analysts say a confirmed break above this price could clear the path toward the next selling zone near $4.00. SUI is currently trading at $3.33.
Technical Momentum Builds as SUI Holds Key Support Zones
Rose Premium, a crypto analyst via X noted that SUI is forming a potential bullish reversal on the weekly chart, supported by historical demand around $2.13. This area coincides with the 0 Fibonacci base.
The recent price action also confirms support at $2.83, with higher lows developing on the daily timeframe. A falling wedge pattern recently broke to the upside, and a golden cross has formed, with the 50-day moving average crossing above the 200-day.
Historically, this crossover preceded large rallies, such as in late 2024 when SUI surged over 380%. If momentum continues, analysts say the $3.75–$4.25 range may come into play as near-term resistance.
On-Chain Signals and Market Sentiment Support Further Upside
On-chain metrics indicate stronger network engagement. Total value locked (TVL) on Sui-based platforms rose to $3.05 billion, up 50% since April. Data from SuiScan shows a 25% increase in daily active addresses, signaling improved participation.
According to Crypto NL via X, “SUI broke out and wants another leg up. I think in the short term, SUI will reach $5.30.” Weighted funding rates have remained positive for over a week, suggesting that long positions are still favored.
Analysts are watching the $3.40 sell wall, as a break above that level may result in rapid upside movement toward the next resistance zone around $4.00. A failure to break may trigger a retest of $2.83, with downside support near $2.42.
