SUI trades near $3.48, testing a descending trendline after forming a tight symmetrical triangle.
Technical indicators show bullish momentum, with RSI at 61 and MACD values remaining positive.
A breakout above trendline resistance could open a move toward the $4.30 target, say analysts.
SUI is now trading near a key descending trendline resistance, with its current price at $3.48. The asset has formed a tight price range with reduced volatility, which is often a pre-breakout setup. Technical patterns and recent volume activity suggest that a move toward $4.30 may be approaching.
Breakout Structure Aligns With Market Activity
SUI’s price action has built a clear symmetrical triangle, where higher lows meet consistent resistance at the upper trendline. This structure has developed over several months, indicating strong positioning.
https://twitter.com/Sudelytic/status/1944004678833848382
The current movement shows SUI pressing against the descending resistance, with tightening price action indicating a squeeze. According to an observation by analyst Sudelytic, SUI is pressing right up against the descending trendline and looks ready to pop.
Based on the chart formation, a confirmed breakout could send the price to the first projected target of $4.30. Market volume has remained steady, but a breakout could trigger a surge in trading activity.
Strong Fundamentals and Technical Momentum
The asset has gained attention due to its expanding ecosystem and consistent demand within DeFi markets. Recent data shows a total token trading volume exceeding $510 billion. Average monthly volume has reached $18.89 billion, placing SUI ahead of several top-tier altcoins in terms of activity.
According to analysis prepared by CryptoSkullSignal, SUI broke out of a falling wedge and is currently holding above its 50-day EMA at $3.05. Indicators like RSI at 61 and positive MACD values also confirm upward momentum.
Analysts believe the current “coiling phase” may lead to further upside if SUI breaks resistance. At the time of writing, SUI remains close to $3.48 and continues testing this technical level. If price closes above the descending trendline, the path toward $4.30 becomes more likely.
The post SUI Presses Against Descending Trendline, Analysts Target $4.30 if Price Closes Above This Level appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
