SUI Approaching Breakout With $4.29 Resistance Weakening Amid Strong On-Chain Activity

SUI is approaching a critical juncture with analysts identifying strong on-chain metrics and bullish technical patterns supporting a potential breakout. The token’s total value locked has reached $2.25 billion, and decentralized exchange volume has neared $15 billion in the past month, signaling sustained network activity. These figures highlight a growing divergence between the token’s fundamentals and its current price, with key resistance levels showing signs of weakening as the price retests the $4.29 threshold [1].

The resistance at $4.29 has previously acted as a price ceiling, but repeated rejections indicate it is losing strength. Analysts have observed that SUI has maintained an uptrend since last year, characterized by higher lows and consistent buying pressure. The ascending trendline further reinforces a bullish outlook, with the token currently trading at $3.86 [1]. According to Michael van de Poppe, a breakout above this level could push the price toward $5.00–$5.50, while a failure to clear the resistance might result in a pullback to $3.20 or $2.79 [1].

Fibonacci retracement levels also support the bullish scenario. Analyst Ali notes that SUI formed a symmetrical triangle between February and April, breaking out with a move above the 0.618 level at $3.57, which is now a key support level. The price is currently testing resistance near the 0.786 retracement at $4.23, aligned with the $4.29 resistance zone. If buying pressure continues, the token could move toward the 1.0 Fibonacci level at $5.24, with extended projections targeting $6.89 and $7.95 [1].

Historical context further strengthens the bullish case. A similar price movement occurred in late 2024 when SUI surged after breaking out from a support band between $2.00 and $2.63. This zone remains a key accumulation area and a critical support level if a pullback occurs. Analysts stress that maintaining the price above $3.57 is essential for the bullish scenario to hold. If SUI sustains its upward momentum, the alignment of technical structures and on-chain strength could lead to another retest of higher levels in the medium term [1].

Source: [1] Analyst Predicts $SUI Breakout as Key Levels Tighten Toward Record Highs (https://cryptofrontnews.com/analyst-predicts-sui-breakout-as-key-levels-tighten-toward-record-highs/)