SUI has advanced to $3.72, rising over 3% within the past 24 hours as bulls return to the market. The price rebounded strongly from the $3.50 support zone, gaining traction after defending the 100-EMA level.
Buyers are now challenging the resistance band between $3.75 and $3.80, a level that has rejected multiple breakout attempts earlier this month. The general chart confirms that the token is still heading toward a descending wedge beginning at the April 2022 high of $5.36.
Since early April, SUI has made higher lows, with help from a line joining the low at $1.71. The 4-hour chart indicates a bullish tendency as the price moves toward the top of the Bollinger Band.
Source: Tradingview
The setup on the 30-minute chart using Ichimoku Cloud is bullish because the price is above both the Tenkan-sen and Kijun-sen lines. Even so, the trend must be confirmed by more positive data to ensure it lasts.
Momentum is showing a cautious alert at this time, with RSI around 59 on the 4-hour chart, indicating that the market has some strength but is not becoming too strong. MACD has just crossed above zero on the 30-minute chart, yet momentum is still not strong.
Source: Tradingview
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Breakout From $3.80 Could Unlock Next Move to $4.25
A confirmed move above $3.80 would mark a structural breakout, potentially reversing the lower-high formation seen throughout May. This shift could spark fresh momentum and bring $3.92 and $4.00 into focus as near-term targets.
These levels also coincide with the 0.618 Fibonacci retracement zone, making them critical for market direction. Should bulls keep driving, they can find resistance at the $4.25 level.
Source: Tradingview
At $3.62, the downside remains backed by both demand and an essential cluster of 20 EMA. If SUI continues to fall below $3.50, it might lose some of its bullish pressure and go back toward $3.25.
The breakout will be confirmed mainly by the volume involved. The altcoin market’s reaction is still unclear, but SUI has to attract more interest to maintain any rise past its short-term resistance.
The price of SUI rebounded as support, which could push it to a major breakout. When the price surpasses $3.80 and enjoys strong volume backing, $4.00 and $4.25 could be reached rapidly.
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