SUI price consolidates between $2.79 and $2.63, forming a key support level for bullish accumulation and potential upside movement.
Institutional investors show confidence, with $450 million allocated toward a dedicated SUI Treasury Strategy following record DEX activity.
A breakout from a long-term triangle and rising volume place focus on $4.30 resistance, with targets of $7.60 to $14 ahead.
Sui (SUI) has entered a significant price zone between $2.79 and $2.63, a level widely seen as an accumulation area. The token's recent pullback follows a sharp rally in July, positioning it within a range considered crucial for bullish continuation. Trading volume has increased, signaling growing market interest at this level.
July recorded a major surge in on-chain activity, with decentralized exchanges on the Sui network processing over $14 billion in volume. This momentum caught the attention of institutional investors. Mill City Ventures confirmed a $450 million private placement to establish a dedicated SUI Treasury Strategy. This move highlights a growing wave of institutional capital entering the ecosystem.
Technical Breakout Signals Trend Reversal
SUI recently broke out of a long-term symmetrical triangle, followed by a successful retest of the breakout trendline. This pattern is commonly seen as a bullish continuation signal. The price action suggests that the recent decline could form a base for a potential upward move. Analysts now focus on the $4.30 resistance level, which has acted as a major liquidity zone.
https://twitter.com/CryptoMichNL/status/1952376478366416931
A number of technical indicators still keep the optimistic view alive. Fibonacci extensions of price lead to price projections of between $7.60 and 9.00 as seen by analysts. Also, the presence of the parallel channel formation defined by other analysts shows that long-term profit can now increase up to a maximum of $14, provided the existing uptrend has not finished yet.
Market Sentiment Turns Positive Despite Pullback
Despite a 16.16 percent dip over the past week, SUI has climbed 2.73 percent in the last 24 hours, bringing its price to $3.51. The market cap now stands above $12 billion. Analysts emphasize that the broader trend remains bullish as long as the token maintains support above the current accumulation zone.
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