- SUI holds critical support between $2.62–$1.87, setting up for a potential bullish breakout.
- Stablecoin volume on SUI surpasses Solana, signaling growing network adoption and utility.
- A daily close above $2.85 may confirm reversal, with targets set between $4.12 and $5.30.
SUI is trading near $2.67 after a broader market correction, but analysts say a bullish setup is forming. The price structure aligns with previous recovery patterns, and stablecoin network activity continues to grow. If buyers hold current support, a breakout toward the $5.30 target may begin.
SUI Finds Support in Critical Fibonacci Zone and Bullish Structure
SUI is testing support between $2.62 and $1.87, a key Fibonacci retracement area. This zone includes the 0.618 and 0.786 levels, often seen as areas where buying interest returns. The structure is part of a broader 1-2 Elliott Wave setup, which suggests that the price could soon enter an upward move.
Man of Bitcoin noted that failure to break below $1.718 would keep the bullish structure intact. If the support holds, price targets near $3.40 become relevant. This mirrors a price recovery observed in early 2024 when several altcoins rebounded from similar zones and gained up to 40% in two weeks.
Waleed Ahmed pointed to a daily breaker block between $2.30 and $2.80. This level acted as resistance in March 2025 and is now being retested as support. A daily close above $2.85 could trigger the next wave up.
On-Chain Activity and Volume Support Positive Outlook
SUI processed $40.07 billion in stablecoin transfers between June 9 and 15, outperforming Solana’s $35.53 billion. This signals strong network usage and increasing traction among developers and users.
CoinMarketCap shows that SUI now ranks 12th in market capitalization at $9.57 billion. The Relative Strength Index (RSI) is around 34, near previous reversal zones. If price holds $2.67 and breaks past $3.02, then a rally toward the $4.12 to $5.30 range remains in view.
