SUI broke through a wedge pattern and doubled in value from its April low to above $4 this week.
The price now targets $5.0016 which matches a former resistance area seen in previous trend highs.
Market volume increased at the breakout showing strong interest from buyers and possible further upside.
SUI has broken out of a months-long falling wedge pattern with a renewed price target of $5 confirmed on May 11, 2025. The breakout comes after a prolonged downtrend from its previous high of $5.3687, with current price action reaching $4.0840. A technical analysis posted by crypto analyst Marty confirmed the target and identified bullish momentum behind the move.
Source: X
Trading volume increased sharply at the breakout point, supporting the likelihood of price continuation toward the marked resistance zone at $5.0016.
Chart Analysis Reveals Breakout Confirmation
The chart showcases a well-defined falling wedge that began after SUI hit its peak in late 2024 near $5.36. From that point, the asset declined steadily, touching a low of around $1.50 before reversing course in April 2025.
Falling wedge patterns are traditionally bullish and often precede price rallies if confirmed by volume. In this instance, volume spiked during the breakout, with clear separation from the wedge's upper boundary.
The analysis labels a target near $5.0016 as the next major resistance, aligning closely with a previous horizontal support from SUI’s earlier rally. If price maintains momentum, this resistance could be tested within days. The breakout move has already lifted SUI more than 100% from its local bottom.
Analysts note the clean structure of the wedge, formed over several months, and the precision of the breakout path. Both contribute to growing market confidence in the $5 target being achieved soon.
Social Momentum Builds Around SUI’s $5 Push
The tweet showing the technical setup received strong engagement, with over 16.7K views and nearly 150 combined likes and shares. Community comments suggest widespread confidence in the target being hit this week.
Traders responded by comparing SUI’s recent move to other altcoin surges, with some speculating on further upside beyond $5. Multiple replies echoed similar sentiments, predicting quick moves toward the high.
Historical performance shows that SUI’s previous rally also began with a long base phase followed by vertical growth. This has increased optimism that current market behavior could mirror prior cycles.
The chart also contains a long-term support zone marked “LONG” near the $0.10 level, offering long-term context. This zone began SUI’s upward journey and supports the idea of a broader trend reversal now in progress.
