SUI Eyes New Highs After Breaking Key Resistance, Is a Major Rally Ahead?

• SUI tests key resistance at $2.30; holding above $2.20 could fuel further gains and maintain its bullish momentum.
• The buy zone at $1.70-$1.85 shows strong demand, with high volume signaling buyer interest and market support.
• RSI and MACD indicators confirm bullish strength for SUI; volume at 78.3M points to sustained market participation.

According to analyst CryptoDoc, SUI has been on a bullish path, bouncing from a key buy zone and now testing upper resistance levels. SUI’s market capitalization is at $6.3 billion, with the token seeing substantial gains, especially following a recent 20% surge in the past 7 days. 

SUI’s Momentum and Resistance

SUI has shown consistent upward movement since early September, following a series of higher highs and lows, suggesting sustained bullish momentum. A downward-sloping trendline initially served as a resistance point from early October, but SUI recently broke through this line around the $2.20 mark. 

The price is now nearing the $2.30 zone, a critical point where the trend’s continuation depends on maintaining above this level. If SUI holds its position above $2.20, the bullish trend could persist, but a push beyond the resistance at $2.40 would be necessary to unlock further gains.

Buy and Resistance Levels Indicate Market Interest

The buy zone, located between $1.70 and $1.85, has historically served as a demand area for SUI. During October, this zone witnessed increased buying interest, indicating that if SUI sees a pullback, this area may again attract buyers, offering a potential re-entry point. 

Above, the resistance zone between $2.35 and $2.40 presents a challenging barrier, with previous attempts at breaking through met by selling pressure. This zone remains pivotal, and a successful push above it could open pathways to higher levels, confirming the robust buying activity.

Indicators Show Promising Signals with High Volume Support

The volume has reached 78.3 million, reinforcing the strength of the uptrend. The Relative Strength Index (RSI), sitting at 64.90, suggests bullish momentum without reaching overbought levels, which allows room for additional gains.

The Moving Average Convergence Divergence (MACD) indicator, with positive values and a recent crossover, also supports the current uptrend. Both the RSI and MACD indicators suggest that SUI’s bullish trend could continue if volume and market support remain strong.