SUI crypto price is showing renewed bullish momentum after breaking out of a key technical formation on the daily chart. The altcoin cleared a symmetrical triangle pattern, supported by rising trading volume and strong open interest in the derivatives market. Analysts now believe the next major upside target lies near the $8 mark.
SUI Breaks Out Above Key Fibonacci Resistance at $4.26
After weeks of consolidation, SUI price has successfully broken out above the 0.786 Fibonacci retracement level at $4.26, confirming a shift in trend direction. The breakout was confirmed by a daily candle close above $4.30, which now acts as the key level for bullish continuation.
Technical charts show that the altcoin was forming higher lows within a tightening triangle structure. This pattern, known as a symmetrical triangle, often precedes sharp price moves when it breaks decisively in one direction. In SUI’s case, the breakout was to the upside, with bullish traders now targeting resistance levels at $5.28, $6.96, and potentially $8.04.
According to analysts, the $3.68 level—aligned with the 0.618 Fibonacci retracement—has become a strong support base. The recent price rejection from this level during a pullback reinforces its importance as a short-term floor.
Market Momentum Builds Behind SUI Crypto Price
Supporting the bullish breakout, trading volume and open interest in SUI derivatives have both increased sharply. In the past 24 hours, derivatives volume surged 12.39% to reach $7.34 billion. At the same time, open interest rose 8% to $2.72 billion, indicating more capital is flowing into SUI-based contracts.
These rising metrics typically confirm the legitimacy of a breakout. High volume means traders are actively positioning in anticipation of further gains, while increased open interest reflects new money entering the market—not just short-term speculation.
Liquidation data also revealed a balanced distribution between long and short liquidations, with $2.71 million cleared from longs and $2.80 million from shorts in the past 24 hours. This balance suggests that while some traders were caught off-guard by the breakout, the overall trend remains intact.
SUI Price Eyes $5.28 Resistance as Next Key Level
Now that the $4.30 breakout level has been validated, the next key challenge lies at $5.28, the first Fibonacci extension target. A daily close above this level could accelerate bullish momentum further, bringing $6.96 and $8.04 into view.
At the time of writing, SUI price trades at $4.22, gaining 5% over the past week. Trading volume has also climbed 18% over the last 24 hours to hit $2.59 billion.
If SUI holds above the $4.30 breakout zone and maintains momentum, it could continue along the triangle’s projected path—pointing toward a full measured move to $8 based on the pattern’s height.
MACD and Volume Indicators Support the Bullish Case
On the daily chart, the Moving Average Convergence Divergence (MACD) indicator has shown a bullish crossover since early July. The MACD line remains above the signal line, signaling that upside momentum is still active.
However, the recent histogram bars are slightly shorter compared to those seen during the mid-July rally. This suggests that while the trend remains bullish, some exhaustion could be creeping in unless volume continues to build.
Still, the bullish divergence and the structure of the triangle breakout remain intact, giving SUI price room to continue higher—especially if external market conditions support further altcoin rallies.
What Comes Next for SUI Crypto?
From a technical perspective, the structure of the breakout, combined with rising volume and open interest, supports the view that SUI crypto may be in the early stages of a larger price move.
The market’s next focus is whether SUI can break and hold above the $5.28 resistance. If so, the move to $6.96 and $8.04 could follow quickly—particularly if overall altcoin sentiment remains strong.
In the short term, traders will continue watching the $4.30 and $3.68 levels as support zones. A failure to hold these levels may invalidate the bullish structure, though the current trend suggests that momentum remains favorable for bulls.
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