SUI Cryptocurrency Holds Steady Below $3 After Bullish Breakout

SUI, a prominent cryptocurrency, has been holding steady just below the $3 mark after breaking out of a downtrend that lasted several months. This breakout has led to a period of consolidation, where the price has stabilized and is now holding steady. The resistance level at $3 has been a significant barrier for SUI, as it has tested this zone multiple times without a successful breakout. However, the chart indicates a potential for a bullish reversal, with the price showing signs of strength despite being below the resistance level.

SUI's price movements have been closely watched by traders, who are hoping that the cryptocurrency can finally push through the key $3 level. According to Crypto Rand on X, if SUI can get above $3, it could trigger a bigger bullish reversal. The chart shared by Crypto Rand aligns with the current structure on the 3-day timeframe, suggesting that a breakout above $3 could lead to further gains.

SUI's price journey has been marked by significant fluctuations. In early August 2024, SUI began appreciating from below $1 and peaked at about $5.70 by early 2025. However, the momentum weakened, and the price entered a consistent downward slide, defined by a descending channel. SUI finally broke out of this downtrend in late April this year. Since then, the price has been trying to recover, finding support around $2.60 and 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 include support around $2.60, which 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's recent price movements have shown a bullish setup, as it 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. However, 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.