- SUI trades within a symmetrical triangle, with $3.60 as the key breakout level to watch.
- Volume rose 50.45% as price nears $3.60, signaling strong market interest and potential breakout.
- Targets at $5.29 and $6.97 remain in play if SUI closes above the critical $3.60 resistance zone.
SUI is currently trading within a symmetrical triangle, a technical formation suggesting price compression. Analysts are watching for a decisive move above $3.60, which could trigger a strong upward trend. The pattern has developed over several months, with converging support and resistance levels defining the consolidation zone.
Market Structure Shows Tightening Range
According to analysis prepared by Ali Charts, SUI is forming a symmetrical triangle, marked by lower highs and higher lows since late Q1 2025. The asset rebounded from the $2.43 support zone and gradually moved through key Fibonacci retracement levels. The price respected the 0.5 Fibonacci level at $3.1870 and approached the 0.618 level near $3.59.
As of July 11, SUI traded at $3.52, showing a 9.15% gain in 24 hours. Trading volume rose by 50.45% to $1.94 billion, while market cap reached $12.19 billion. The ascending support trendline held firm, showing strong buyer interest. At the same time, the descending resistance line continued to contain upward movement near $3.60.
The Relative Strength Index hovered near 50, indicating balanced momentum. The pattern’s apex is expected to be reached by September, suggesting a potential breakout in the near term. Traders are closely monitoring the $3.60 level for a confirmed daily close above resistance.
Price Action Gains Momentum Near Resistance
SUI’s price action remained positive throughout July 11, maintaining higher lows on the hourly chart. According to an observation by Crypto NL, SUI is approaching its all-time high of $5.30.
The coin had previously gained over 170% in the November 2024 rally before undergoing a 70% correction. Now trading around $3.40, SUI continues to show buyer support, as price holds above $3.18.
A break above the $3.60 resistance could open the way toward previous highs. The 1.0 Fibonacci extension near $5.29 and the 1.272 extension at $6.97 remain potential future price targets, depending on follow-through strength.
