SUI breaks out of the descending wedge, with $2.90 now seen as the key breakout trigger level.
Support holds between $2.45–$2.70; traders eye higher low to confirm bullish continuation.
Targets at $3.40 and $4.20 emerge if SUI clears $2.90 and maintains bullish structure.
SUI has broken out from a descending wedge pattern, shifting its short-term market structure into a bullish setup. The price showed steady strength above key support, and traders are now watching for a higher low that may confirm a trend continuation. Attention is focused on the $2.90 level.
Bullish Momentum Emerges with Wedge Breakout
SUI traded at $2.75, recording a 1.34% gain over the last 24 hours, while its market capitalization increased by 3.08% to reach $9.53 billion. The breakout from a tightening wedge pattern on the daily chart suggests a change in short-term direction.
This move was supported by a V-shaped recovery, indicating renewed buying pressure after an intraday low near $2.64. According to an analysis prepared by AltCryptoGems, “Structure turned bullish locally, so now all eyes [are] on a potential higher low to buy the dip.”
https://twitter.com/AltCryptoGems/status/1940047740232507647
The current price movement has formed higher lows throughout the day, confirming a trend shift. The 24-hour trading volume, though down by 20.9%, remained solid at $572.8 million, with a volume-to-market cap ratio of 5.99%.
Key Support and Resistance Levels in Focus
Support has been identified between $2.45 and $2.70, with resistance around the $2.90 mark. A confirmed daily close above this level may act as a breakout trigger. The price could then retest the $2.90–$3.00 zone before any further upward movement. If a higher low forms above support, the bullish trend may continue.
According to an observation by Sonia S., a market participant, “I believe it will go back to $4 even higher soon.” She also confirmed previous selling at $4 during the Cetus event in May. Price targets after a confirmed breakout include $3.40 and $4.20.
SUI remained the 13th-largest cryptocurrency by market cap, and buyers appear to be accumulating during the current range. The setup continues to attract market attention as traders await a potential breakout confirmation.
The post SUI Breaks Out of Wedge Pattern, Analysts Now Watching $2.90 as Key Breakout Trigger appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
