SUI price is holding steady just under the $3 mark after breaking out of a downtrend that lasted several months.
The price has started to consolidate again, and traders are watching closely to see if it can finally push through this key level.
According to Crypto Rand on X(Formerly Twitter), SUI getting above $3 could be the trigger for a bigger bullish reversal.
A SUI chart he shared shows the current structure, and it lines up with what’s been playing out on the 3-day timeframe.
SUI Breaks Out of Downtrend, But Still Faces Resistance
SUI also had a strong beginning from the early part of August 2024, when it began appreciating from below $1 and peaked at about $5.70 by early 2025.
Subsequently, the momentum got weaker, and the price went into a consistent downward slide. That downtrend was defined by a descending channel, which SUI finally broke out of in late April this year.
Since then, the price has been trying to recover. It found support around $2.60 and has been moving between that level and resistance just below $3.30.
There was also a smaller drop from $3.70 down to $2.50, but SUI price broke out of that structure too.
Every time it has moved out of a descending channel, short-term gains have followed, and traders are hoping the same happens again.
Key Levels to Watch on the SUI Chart
Looking at the SUI chart, support around $2.60 has held well so far. There’s also a more solid level at $2.20 if the price dips lower again.
Below that, $1.90 and the old base around $1.00 still stand as long-term support zones. Resistance is clearly sitting between $3.00 and $3.30.
That’s the zone that needs to flip into support if this move is going to continue. If SUI price can close above that range, the next targets could be $3.70 and $4.30.
The all-time high from earlier this year at $5.70 would come into play if the uptrend really picks up steam.
SUI Bullish Setup Taking Shape, But Still Needs Follow-Through
SUI price recently broke out of a falling wedge pattern, a setup that usually leans bullish. The volume and price structure both suggest that buyers are stepping in again.
But even with momentum turning, it still hasn’t confirmed a full reversal. The $3 zone is the line in the sand right now. If SUI can get through it with conviction, the recovery might have legs.
But if it fails again, we could see another test of the $2.50 or even $2.20 range. For now, the market is waiting to see what comes next.
Read Also: SUI Price Going to $100 Is Not a Dream, It’s What This Chart Points To
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