SUI Cryptocurrency Poised for 40% Gain as Support Holds

SUI, a prominent cryptocurrency, is currently navigating a critical support zone between $2.62 and $1.87, a key Fibonacci retracement area that includes the 0.618 and 0.786 levels. These levels are often seen as areas where buying interest returns, and the current price structure aligns with a broader 1-2 Elliott Wave setup. This suggests that the price could soon enter an upward move, potentially leading to a bullish breakout.

Analysts have noted that if SUI holds its current support, a breakout toward the $5.30 target may begin. This mirrors a price recovery observed in early 2024 when several altcoins rebounded from similar zones and gained up to 40% in two weeks. Man of Bitcoin, a prominent analyst, highlighted that failure to break below $1.718 would keep the bullish structure intact, with price targets near $3.40 becoming relevant.

Waleed Ahmed, another analyst, pointed to a daily breaker block between $2.30 and $2.80. This level acted as resistance in March 2025 and is now being retested as support. A daily close above $2.85 could trigger the next wave up, confirming a reversal and setting targets between $4.12 and $5.30.

On-chain activity and volume further support the positive outlook for SUI. The cryptocurrency processed $40.07 billion in stablecoin transfers between June 9 and 15, outperforming Solana’s $35.53 billion. This signals strong network usage and increasing traction among developers and users. The Relative Strength Index (RSI) is around 34, near previous reversal zones, adding to the bullish sentiment.

Currently, SUI is trading near $2.67 after a broader market correction. However, analysts believe that a bullish setup is forming, with the price structure aligning with previous recovery patterns. The growing stablecoin network activity continues to support this outlook, suggesting that if buyers hold current support, a breakout toward the $5.30 target may be imminent.