Sui Rallies 6.65% as Grayscale Trusts and Bullish Patterns Fuel Breakout Hopes

Sui (SUI) appears to be positioning itself for another potential upward move, with analysts and market observers drawing attention to key resistance levels and bullish patterns. The cryptocurrency has rebounded from critical support levels and is showing signs of gathering momentum, particularly amid growing institutional interest and strategic developments within the Sui ecosystem [1].

The altcoin is currently trading near the $3.90 level, having recovered 20% from this month’s lows and gaining 6.65% in the past 24 hours [1]. Over the past few weeks, SUI has been attempting to reclaim the $3.90–$4.00 zone, a range that has historically served as a key barrier for further price appreciation. The token briefly breached this range during the July market rally and is now approaching it again, with analysts suggesting a breakout may be on the horizon [1].

One of the significant catalysts behind renewed interest in SUI has been the introduction of new investment vehicles by Grayscale Investments, a major digital asset firm. On August 12, the company launched the Grayscale DeepBook Trust and the Grayscale Walrus Trust, which offer exposure to two key protocols within the Sui ecosystem. These trusts are now open for subscriptions and are exclusively invested in the DEEP and WAL tokens, respectively [1]. This move follows the firm’s earlier launch of the Grayscale Sui Trust, which spurred a 44% rally in SUI’s price upon its announcement [1].

From a technical perspective, SUI is forming a bullish 3 drives pattern, a chart pattern that has historically preceded significant price moves. Analyst Sjuul from AltCryptoGems noted that SUI has been following this pattern since the May breakout, with a third upward leg potentially still on the way. If this pattern holds, the price could target the $5.00 resistance level, with some models projecting a potential run up to the $10 price level [1].

Crypto Rand and analyst Alex Clay have also pointed to strong higher-timeframe setups for SUI, including a cup and handle formation and a 10-month symmetrical triangle. According to Clay, the token is currently in a re-accumulation phase, and a confirmed breakout from the $4.00 level could spark a rally to a new high between $7.90 and $11.70 [1].

Market indicators further support a bullish outlook. The RSI is at 56, indicating SUI is not yet overbought and still has room to rise. The MACD remains in positive territory, reflecting increased buying pressure. Additionally, 24-hour trading volume has surged by over 70%, reaching $1.4 billion, while open interest in derivatives has climbed to $2.09 billion [2].

Despite the positive momentum, some analysts caution that a short-term pullback may occur before the next bullish expansion. SUI has already seen a 75% rally in recent weeks, and a retest of the $3.36–$3.11 support range could occur before the uptrend continues [3]. This is a common market behavior following rapid gains and should be considered as part of the broader price narrative.

Meanwhile, the Sui ecosystem is showing signs of deeper institutional integration. Stablecoin activity is increasing, and new regulated trading and custody products are being introduced by major financial institutions. These developments are enhancing SUI’s utility and adoption, reinforcing the case for sustained price growth [1].

As of the latest data, SUI is trading at approximately $3.91, with a 2.51% increase in the past 24 hours and a 12% rise in the monthly timeframe [2]. Analysts remain optimistic, with some forecasting that SUI could eventually reach multi-digit levels, provided bullish fundamentals hold.

Source:

[1] SUI Set Up For Another Leg? Analyst Forecasts $10 Target

https://www.newsbtc.com/news/sui-set-up-for-another-leg-analyst-forecasts-10-target-for-potential-breakout/

[2] Sui Poised for $4 Breakout With New All-Time High Targets

https://bravenewcoin.com/insights/sui-sui-price-prediction-sui-poised-for-4-breakout-with-new-all-time-high-targets-after-6-3-spike

[3] Why SUI may pull back before the next bullish expansion

https://blockchair.com/es/news/why-sui-may-pull-back-before-the-next-bullish-expansion--0bfa19baeb8d0c40