Sui (SUI) Price Surges 20% in a Week, Aims for $4.78 Breakout

Sui (SUI) is on the verge of a significant technical breakout that could reshape its short-term market trajectory. The Layer 1 blockchain has demonstrated steady gains over the past week, and its chart now indicates a bullish continuation pattern. Analysts suggest that a confirmed breakout could pave the way for higher price targets.

SUI’s price is currently testing the upper boundary of a macro triangle pattern, according to analysis shared by market watcher Rekt Capital. The diagonal resistance line, which has capped upward moves for months, is now under pressure as bullish momentum builds. A breakout above this trendline could signal the start of a new rally. The chart shows the price nearing $3.78, a level that has held firm as resistance in prior months. If the weekly close breaks above it, analysts expect a continuation toward the $4.78 mark. This breakout attempt is marked by increased buying pressure and recent bullish candles near the resistance zone.

If SUI fails to break above resistance, the $3.39 and $3.52 support zones may catch the next pullback. These levels, identified in the chart analysis, have held up in recent consolidations. They offer potential re-entry points for traders monitoring the breakout structure. The consolidation within the triangle has narrowed over time, signaling a high probability of an upcoming directional move. So far, the trend remains intact as long as the price holds above the triangle’s lower boundary.

Volume trends are another factor fueling the bullish narrative. A surge in volume during the breakout would strengthen the case for upside continuation. Analysts believe the alignment of technical indicators and strong fundamentals enhances the setup. SUI’s Total Value Locked (TVL) has climbed past $2 billion, placing it among the top performers across Layer 1 blockchains. This on-chain growth supports the bullish chart structure and helps justify the price action.

According to Sudelytic, SUI has risen over 9% in the last 24 hours and more than 20% over the past week. This steady increase has caught attention in a market that’s slowly heating up. With the broader crypto space watching closely, some analysts believe a longer-term target near $10 could come into play if the trend holds. At press time, SUI trades at $3.51. All eyes now turn to the weekly close, which may determine whether the breakout confirms or delays.