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Sui price is showing signs of a potential breakout as analysts point to bullish technical patterns.
Despite experiencing a 30% decline over the past month, SUI price is testing key resistance levels.
Future trends show the $3.5 price range is achievable soon if SUI breaks the current falling wedge pattern.
SUI Approaches Breakout as Analysts Monitor Resistance Levels
Crypto analyst Michael van de Poppe has noted that SUI is having an upward trajectory in the near term.
He pointed out that the retest of prices placed the traders in a good position. Which means, SUI could have begun the next price upswing already.
Another analyst, CryptoJack, noted that SUI is currently correcting a downtrend resistance level on the daily chart.
Based on his observation, if SUI is able to penetrate this resistance level, bulls could take charge and push it towards $3.0–$3.5.
He further highlighted that one should wait for the volume to confirm that the breakout is imminent.
However, Captain Faibik, a market analyst, pointed out a bearish falling wedge pattern on the daily chart of SUI/USDT.
He noted that this is a typical bullish reversal pattern. If confirmed, SUI can reach new higher levels in April.
SUI Price Falling Wedge Pattern Signals Potential Uptrend
The formation of the falling wedge pattern observed on both the daily and the three-day frames suggests that the rate of selling pressure is gradually decreasing and the market is likely to go up again.
The past price data indicates that SUI has had instances of coming out of these defined technical patterns to trigger major upswings.
In the past, this pattern has manifested having analysts predict that SUI could easily experience a substantial price rise.
Recent trading activity has established the range that is between $2.11 and $3.83, with the first support level at $2.26.
In case of a breakout, the following levels have been estimated: $3.0, $3.5, and $4.7 to be breached if the token is to hit its previous high of $5.35.
The value of the Relative Strength Index (RSI) is 51.61. This suggests subdued buying pressure, and hence, an upward price movement could be expected.
The sustainability of the breakout will therefore depend on the confirmation of the volumes.
There are also possibilities of false breakouts. Prices should be closely watched to prevent such reactions, which may lead to a pullback to support zones.
If the price deviates back into the wedge, it may bounce back towards the $2.6 to $2.7 level before trying to break out again.
On-Chain Activity and Market Trends Support Bullish Outlook
Apart from these technical indicators, there is notable circulation for SUI as seen on chain data.
The network recently reported a total of $73.85 billion in stablecoin transfers. Basically, stablecoin activity could be considered as one of the early signs of further growth of network utilization, which may boost the price.
SUI has been exhibiting high fluctuations in its prices within the last year, with a steep downfall and then a steady rise.
Since its low of $0.3643 in October 2023, the token has recovered to reach a high of $5.35 in January 2025.
Experts speculate that further developments within the SUI ecosystem, such as new implementation and technical improvements, could contribute to long-term progress.
