SUI broke key resistance, signaling a bullish reversal after weeks of price consolidation.
Technical indicators such as RSI (62.28) and MACD show continued upside momentum.
Market cap exceeds $11B, with price holding above $3.27 as trading volume remains strong.
In a notable move within the crypto market, Sui (SUI) posted a sharp rise on June 7, briefly trading above $3.27. The uptick follows several technical and market structure shifts that have been developing over recent weeks. With improving on-chain data, a breakout from support, and bullish RSI and MACD signals, analysts are now closely watching SUI for further upside potential.
Market Recovers After Period of Consolidation
SUI had been trading within a narrow horizontal channel, with visible support forming near the $2.80 mark. The recent breakout from this zone comes after multiple failed attempts to breach resistance near $3.10 earlier in the month. Price structure data indicates a clean bullish breakout from a rectangular accumulation pattern, backed by a surge in buyer volume during U.S. market hours.
The daily chart shows a clear shift in momentum, where the coin had previously formed successive swing highs and lows between April and May. A strong green candlestick broke through the neckline of the previous support zone, confirming the bullish reversal.
RSI and MACD Indicate Sustained Momentum
Technical indicators are adding to the bullish narrative. The Relative Strength Index (RSI) stands at 62.28, approaching the overbought threshold but still within neutral territory. This reading suggests that there may still be room for upward movement before potential profit-taking emerges.
Meanwhile, the MACD histogram has flipped positive, with the blue line crossing above the signal line—an early indication of continued upward pressure.
SUI Rises 5.4% as Price Nears Key Resistance Zone
As of press time, SUI holds a price of $3.27, up 5.41% in 24 hours. Market cap has grown to $11.11 billion, with trading volume exceeding $887 million despite a 30% dip compared to the prior session. SUI's circulating supply is currently 3.39 billion out of a max of 10 billion, suggesting further liquidity remains untapped.
While short-term resistance could develop near the $3.50–$3.60 region, the breakout from long-term support and improving indicators offer a bullish outlook. However, since RSI is approaching overbought levels, a short decline is possible after this surge. It is important to see continuing volume following the breakout to confirm that the upward move is strong, according to analysts.
The post SUI Price Breaks Out of Range, Climbs Past $3.27 With Strong Momentum appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
