SUI has respected Fibonacci retracements since April, with $3.17 standing as crucial support.
The token consolidates under $4.30 resistance but trendline strength favors bulls.
Ecosystem metrics hit record highs, backing prospects for a breakout rally.
Sui (SUI) is trading close to $3.80 after another rejection at $4.30. Technical support levels and strong ecosystem growth keep the bullish structure intact as the market eyes a potential breakout.
SUI Faces Key Resistance at $4.30
The daily chart of SUI/USDT, shared by analyst Ali Charts on X , shows the token once again failing to clear resistance near $4.30. Despite several attempts, buyers have not yet pushed price above this barrier.
https://twitter.com/ali_charts/status/1956904313143615529
Since bottoming at $1.92 in April, SUI has posted steady gains. It broke past the 0.382 Fibonacci retracement at $2.61 in late April, then climbed above the 0.5 level at $2.88 in May. Momentum carried the token to $3.17 in June, where it crossed the 0.618 retracement.
For the past two months, however, SUI has remained locked in a range between $3.40 and $4.20. The $4.3291 zone, which coincides with the 1.0 Fibonacci extension, is the key level bulls must conquer to spark a breakout.
$3.17 Support Holds the Bullish Structure
Analysts are closely watching $3.17 as the next major support level.This level matches the 0.618 Fibonacci retracement and also sits right on the rising trendline that has carried SUI higher since April.
A dip toward this zone would not damage the bullish outlook, as long as the trendline remains intact. Projections show that a rebound from this level could set the stage for another push at $4.30. If broken, Fibonacci extensions suggest targets at $5.40, $6.06, and $7.15.
Ecosystem Growth Strengthens Outlook
Beyond chart patterns, Sui’s fundamentals are gaining momentum. Total value locked (TVL) recently hit a record $2.25 billion. DEX volume topped $15 billion in the past month, while year-to-date figures have crossed $80 billion.
This performance places Sui ahead of Avalanche and Aptos in trading activity. Its TVL is now nearly double that of Cardano and Toncoin. Institutional attention has also grown, with Grayscale expanding into the ecosystem through its Walrus Trust.
SUI continues to respect its bullish structure, supported by the long-term trendline. While $4.30 has capped recent attempts, strong ecosystem growth and firm technical levels suggest a breakout is only a matter of time.
The post After Multiple Rejections, Is SUI Ready for a Clean Break Above $4.30? appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
