- SUI rallied over 82% from its $2.08 breakout as strong technicals, stablecoin inflows, and buyer momentum fueled continued gains.
- After peaking at $5.60, SUI found new strength with rising demand and support reclaiming key zones around $3.00 and $3.39.
- Stablecoin supply hitting $900M and a 30% rise in flows reflect growing investor confidence and fuel SUI’s current uptrend.
SUI has shown strength in recent months, rallying sharply and outperforming major cryptocurrencies like Bitcoin and Solana. Recently, SUI surged over 80% from its breakout level, with prices climbing from $2.08 to around $3.67. Besides, SUI’s stablecoin floating supply reached an all-time high of $900 million, with a 30% increase in stablecoin flows over the last 30 days. Consequently, strong buying pressure and a positive market structure continue to support SUI’s bullish momentum. SUI’s trading activity captured across different timeframes reveals powerful trends developing in favor of the bulls.
Major Technical Breakout and Key Support Levels
Moreover, on the weekly timeframe from Binance, SUI formed a rounded bottom pattern, signaling heavy accumulation phases through late 2023. After rising gradually from less than $0.40 to $1.40 by early 2024, prices began to consolidate. In mid-2024, however, there was a huge breakout that sent prices from $0.60 to an all-time high of $5.60.
Since peaking, SUI corrected sharply, forming a descending triangle pattern with consistent selling pressure. Additionally, the current price of $3.67 represents a 79.40% decline from all-time highs. Key resistance appears at $3.78, with support levels sitting at $3.39, $2.33, and $1.91. These zones, highlighted in green and red on TradingView charts, suggest potential price reactions moving forward.
Short-Term Rally Validates Bullish Sentiment
On the 8-hour timeframe from Bitstamp, SUI confirmed a breakout around $2.08, as highlighted by trader CryptoPatel. Furthermore, the token smashed past both profit targets at $2.48 and $2.92, accelerating beyond expectations. The bullish setup remained strong, with a stop loss at $1.82 never getting triggered.
Besides, the recent rally displayed steep ascending price action with minimal pullbacks, suggesting overwhelming buyer control. Previous resistance at $3.00 now serves as strong support, reinforcing SUI’s bullish thesis. Hence, short-term traders benefited massively from the breakout, with the price gaining over 82% from the entry. SUI’s price structure reflects a healthy uptrend, supported by strong fundamentals and increasing liquidity. Moreover, with stablecoin inflows at record highs, SUI’s bullish momentum looks primed for continuation.
