The price of Sui has started to turn higher after breaking out of a falling wedge pattern, a formation that often signals a bullish reversal. The token is currently holding above the important $1.60 support level, which remains key for sustaining its upward momentum.
Over the last 24 hours, SUI showed solid performance as the broader crypto market recovered. The asset briefly touched $1.72 before easing slightly, and trading activity increased strongly. The 24-hour volume climbed to $905.43 million, up 35%, reflecting healthier market participation.
Analysts believe that if market conditions remain stable, Sui could aim for the $2 level in the coming sessions. Major cryptocurrencies including Bitcoin, Ethereum, XRP, BNB, Solana and Cardano also recorded modest gains, helping strengthen overall market confidence.
Falling Wedge Breakout Supports Bullish Outlook
A well-known analyst noted that SUI is now moving out of a consolidation phase shaped by a falling wedge. This pattern shows a series of lower highs and lower lows that eventually tighten before a breakout. The latest price action suggests that Sui is slowly reversing this trend and preparing for a potential move higher.
The chart highlights a months-long downtrend, with price movement confined inside the wedge. However, early signs of strength are now visible as the token pushes upward. The analyst also pointed out that several weeks of sideways movement may set the stage for a larger rally ahead.
Sui also gained attention after being added to the Bitwise Spot ETF holdings, a development that introduces more institutional visibility and confidence in the project’s long-term potential.
Will Sui Break Major Resistance Levels?
At the time of writing, Sui is trading near $1.61, up around 2% on the day. While the MACD shows a slight bearish divergence, suggesting a cooling of momentum, the Chaikin Money Flow (CMF) at +0.04 points to healthy buying pressure.
If the token holds the $1.60 support, the broader trend remains bullish. Analysts are watching the $1.80 and $2.00 resistance zones closely, as a breakout above these levels could trigger a stronger upward move. Failure to remain above $1.60, however, may result in a short-term pullback.
