Is a Breakout to $4 on the Horizon for SUI?
After months of decline, SUI has bounced back strongly, gaining nearly 85% over the past two weeks and breaking through the key $3.80 resistance. Earlier, SUI had slipped about 68% from its January high of $5.35 to a six-month low of $1.71 during Q1's market dip.
Starting its recovery from the $2.11 level, SUI reclaimed the crucial $3.00 mark for the first time since February, surging to a two-month high of $3.87 just before its recent token unlock.
Following the April 30 unlock of 88.34 million SUI tokens (worth around $300.4 million), the rally cooled off, with prices retracing from $3.51 to $3.21 (an 8.5% drop). However, as selling pressure eased, SUI regained the $3.40 support and climbed another 5.2% on Monday.
According to analyst AMCryptoAlex, if Bitcoin crosses the $94,000 mark, SUI could quickly target the $3.90–$4.00 resistance zone. Meanwhile, analyst Lennaert noted that after successfully defending the $3.20–$3.25 support and rebounding, SUI is showing signs of positive continuation.
"We could be testing new highs soon if momentum picks up. SUI has proven it doesn’t need massive pumps to stay relevant — its ecosystem keeps growing and remains one of the most promising in the space," the analyst said.
Experts suggest SUI has entered an accumulation phase, hovering around the $3.25–$3.85 range. Following Sunday's slight dip below this range, it’s now back testing the lower end and poised for a potential breakout.
The market watchers hint at a possible test of the $3.25 support level before another upward move towards $4.00. "Watch for a retest there — if it holds, an expansion move could follow," said the analyst.
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