SUI Breaks Through the $3 Barrier! Key Resistance Broken, Market Dynamics Resurface

Sui (SUI) cryptocurrency price has recently rebounded strongly, breaking through a key downward trend line, and traders are optimistic about its future trajectory. After rebounding from the support level of $2.00, SUI quickly approached the resistance zone of $2.28, with the market closely watching whether it can break through $2.50 and further climb to $2.80 or even $3.00.

Technical charts indicate that SUI's breakout not only surpassed the downward trend line since February but is also forming a bullish ascending triangle. This suggests significant potential for price increases; if SUI successfully breaks through $2.50 with strong volume, the next targets could be $2.79 and $2.96.

Market support is also further strengthening. The active accumulation by whale investors and strong trading volume affirm SUI's bullish outlook. In the past seven days, whale activity has driven SUI's price up more than 6%. Currently, the daily trading volume has reached $128 million, indicating high market enthusiasm and a rebound in investor confidence.

However, technical indicators still warrant caution. Although the short-term trend looks promising, the 50-day and 200-day moving averages indicate that there is still long-term downside risk in the market. Therefore, if SUI fails to break through the key resistance at $2.50, the price may retrace to around $2.00.

Overall, if SUI maintains above the strong support area and breaks through the resistance at $2.50, the dream of reaching $3.00 may come true.