SUI Price Analysis: Breaks Out from Descending Wedge, 2x Rally Expected Soon

• SUI is maintaining its bullish momentum, surging nearly 18% over the past week.
• The price is currently testing resistance at $2.80, with a breakout potentially leading to a rally toward $2.90 and beyond.
• Technical indicators, including RSI at 64.49, suggest continued bullish activity, though a short-term retracement remains possible.
• A recent breakout from a descending broadening wedge signals the potential for a strong 2x upward move.

Sui (SUI) is holding strong above its support level and preparing for huge upward movement. Over the past week, SUI is up by almost 18% showing strong bullish activity and signs for further uptick. SUI rebound strongly recently after hitting its crucial support at $2. The overall market turned from bearish to bullish phase SUI is benefitting from this fresh wave of optimism.

At the time of writing, SUI price is at $ 2.78 with a 24-hour trading volume of $ 3.02B, market cap of $ 6.50B. Over the last 24 hours, SUI price increased by 4.67% showing continuation of bullish price surge and signs for higher price targets.

SUI Holds Bullish Structure, Eyes $2.80 Breakout

From a technical standpoint, SUI remains in an uptrend, with buyers stepping in at key support levels. The near-term support at $2.71 is crucial for maintaining the bullish structure, while additional support at $2.65 and $2.57 could serve as fallback zones.

If the price dips below $2.49, a deeper correction may unfold before another potential move higher. On the resistance side, SUI is facing a key hurdle at $2.80. A strong breakout above this level with significant volume could pave the way for a rally toward $2.90 and beyond.

The Relative Strength Index (RSI) currently stands at 64.49, reflecting a bullish stance but showing early signs of cooling off. While no bearish divergence has formed yet, a failure to register higher highs could indicate a short-term retracement before another upward leg.

If SUI holds above $2.65 and consolidates, a breakout past $2.80 could confirm a continuation of the bullish trend. However, if the price fails to sustain above $2.71 and drops further, a correction toward the $2.57–$2.49 range may take place. This could mark a temporary pullback before another strong move to the upside.

SUI Breaks Out Potential 2x Rally Expected

Moreover, World Of Charts analysis highlights, SUI has recently broken out of a descending broadening wedge after a prolonged consolidation phase. This pattern often precedes significant price rallies, with analysts expecting the token to potentially 2x in value in the coming days.

As the market continues to shift, analysts are closely monitoring key levels, anticipating a major breakout that could push SUI to new highs.

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