- Momentum builds as SUI breaks out of a bullish pattern, testing key resistance near $4.00.
- Trading volume is up 79.21% in 24 hours, signaling renewed investor interest.
- Price predictions suggest a potential run toward $8.31 by year-end, fueled by technical patterns and blockchain upgrades.
The native cryptocurrency of the Sui Network, SUI, is giving early hints of a possible rally after bouncing from a recent low. SUI is now trading at $3.78, and while up 0.36% over the last 24 hours, the asset has seen its trading volume surge to $1.58 billion, a 79.21% spike from its previous level. Although it registered a 5.17% decrease over a week, the coin is trying to counter its short-term bear trend.
Based on crypto analyst Emma’s observation, the price broke out from an inverse head and shoulders pattern, a solidly established bullish reversal formation, by taking out the $3.765 neckline decisively. This is in line with principles of technical analysis advocated by Investopedia, whereby such formations normally lead to quick upward moves.
So long as support at $3.75 is held by SUI, bulls might stay in charge. The areas suggested to enter are $3.78–$3.82, and short-term targets are $4.10 and $4.20. A breach above $4.00 is likely to be the spark for an extended rally.
SUI fundamentals gain momentum
Apart from chart patterns, fundamentals are dictating SUI’s direction. The integration of the BitVM bridge recently and subsequent introduction of Peg-BTC (YBTC) into the Sui Network are augmenting its utility within Bitcoin DeFi. These changes don’t just fortify the platform’s connectivity but also set the coin up for broader adoption as more demand arises for scalable and effective blockchain solutions.
CoinDesk reports that SUI is maintaining its level at $3.75 and rose 1.9% during May, indicating the market is still favorably supporting it. Additionally, analysts at altFINS say that SUI is breaking above significant prices and is experiencing increasing trading volumes, indicating that the upward trend might continue.
Holding support levels key to bullish outlook
Market forecasts for SUI through 2025 are positive. The analyst anticipates a close above $8.31 by the end of the year with intermediate support points at $5.35. The analysts forecast a range of $8.09 to $8.31 and a possible all-time high. Changelly’s forecast is more extensive, with a high estimate of $7.18 in 2025 and a possible 546.8% return on investment and an average trade price of $5.15 forecasted as early as May 2025.
These predictions, in addition to recent technical and on-chain progress, imply that the coin might be gearing up for a big move higher if and as capital markets remain supportive and it holds major support areas during the next few weeks.
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