SUI surged 15% after breaking out of a falling wedge, with momentum targeting $5.3 mid-term.
Volume jumped 66% to $2.1B as price held above $2.82, signaling renewed market interest.
Over 454K wallets now hold SUI, while institutional activity and network use continue to rise.
Sui (SUI) is showing strong signs of recovery after bouncing from key support, with momentum now aligning for a potential breakout. Recent technical signals, trading volume, and institutional interest suggest the asset may be preparing for a mid-term move toward $5.3. The current market setup supports a bullish continuation pattern in development.
Strong Rebound Supported by Technical Breakout
SUI recently climbed more than 15% after rebounding from the $2.43 support zone, which corresponds to the 78.6% Fibonacci retracement of its previous rally. According to chart analysis from TradingView, the token broke out of a falling wedge pattern, a formation often associated with trend reversals.
https://twitter.com/SolbergInvest/status/1937514549135245454
This pattern had been forming over several weeks before Tuesday’s strong upward move. Volume surged to $2.1 billion during the breakout, a 66% increase from prior levels, reflecting renewed market interest.
At the time of writing, SUI was trading at $2.82, maintaining strong gains while holding above previous support zones. Analysts now view $3.10 to $3.16 as the next key area to monitor. A break above this range could lead to stronger bullish momentum.
Institutional Activity and Mid-Term Targets Emerge
On-chain data suggests rising confidence among large wallet holders. According to CoinGecko, wallet inflows to cold storage increased, with over 454,000 wallets now holding SUI. This accumulation pattern aligns with historical behavior seen before larger market rallies.
Aurora Mobile announced it had added SUI to its digital asset treasury, reflecting institutional interest in the asset’s potential. Meanwhile, according to an observation by Momin, Sui is currently leading stablecoin transfer volume across major chains, including Solana. This signals growing network activity and adoption.
Technical analysis from Crypto Winkle places short-term resistance at $4.40–$4.50 and a second target near $6.20. However, traders are now watching the $5.3 level as a potential mid-term target, supported by strong recovery structure and rising momentum across the Sui ecosystem.
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