SUI Surges 56% Weekly, Breaks Key Resistance Levels

SUI, a prominent cryptocurrency, has experienced a significant surge of 56% over the past week, reigniting bullish sentiment in the market. This rally has positioned SUI to potentially reach new highs, with analysts suggesting that the token is on the verge of a substantial rally.

On Thursday, SUI saw an 11% daily increase, breaking above a crucial barrier. This breakout is notable as the token had been in a multi-month downtrend since hitting its all-time high of $5.35 four months ago. Throughout the 2025 corrections, SUI lost key support levels, retracing over 68% from its January high. However, it attempted to reclaim the $2.70-$2.80 resistance level last month after trying to break out from its multi-month falling wedge structure.

In March, the token surged to this key region following news of institutional adoption, including Canary Capital’s filing of a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). Despite this, SUI failed to confirm the breakout and turn this level into support, dropping to pre-US election breakout levels in the following weeks. Nonetheless, SUI’s 56% weekly breakout has sent the cryptocurrency back above the $3.00 and $3.20 levels, lost in March.

Moreover, SUI has broken out of its falling wedge pattern again, which could propel the token to new highs if the breakout is confirmed. Notably, the altcoin has broken out of a multi-month falling wedge twice, in October 2023 and August 2024, which drove the cryptocurrency to new ATHs in the coming months.

After today’s surge to the $3.39 mark, the token has retraced toward the $3.25-$3.30 levels, with market watcher Hov noting that SUI sits at a key resistance zone between the $3.30-$3.70 price range. To the analyst, the cryptocurrency must “carry through this level and get a HTF close above 3.72ish” for bullish confirmation. After this, he suggested that SUI would likely “see a retest of resistance turned support.” This would put the $4.00 resistance and new ATH “on the menu” if it holds.

On the contrary, failing to reclaim this key zone could halt the bullish momentum and send the cryptocurrency to retest the recently reclaimed $2.70-$2.80 as support, and risk a drop to the re-accumulation zone between the $2.00-$2.30 range.

Meanwhile, Rekt capital noted that the token also looks good “on the fundamental side of things, Grayscale opened a SUI trust today, showing institutional growth.” The analyst highlighted that SUI has rallied 50% since breaking its downtrend, which made the token flip Avalanche (AVAX) and Chainlink (LINK), making it the 11th cryptocurrency by market capitalization.

As of this writing, SUI trades at $3.28, a 34% increase in the monthly timeframe. The recent surge and institutional adoption have positioned SUI for potential further gains, with analysts closely watching key resistance levels to confirm the bullish momentum.