Sui Token Breaks Out of Falling Wedge Pattern, Gains 15%

Sui (SUI), a Layer 1 token, has recently shown signs of a potential bullish trend, capturing the attention of crypto analysts and traders. The token has broken out of a falling wedge pattern, a technical formation often indicative of a trend reversal. This breakout has sparked interest among traders, with Crypto Winkle, a top analyst, predicting that SUI could reach price targets of $4.50, $6.20, and even $10.

The bullish sentiment is bolstered by several factors. Firstly, the price of SUI has bounced off the $2.43 support zone, which has been tested multiple times and is now considered a key support level. Secondly, there are indications that larger wallets have started accumulating SUI, suggesting a potential sector rotation into Layer 1 projects. If Bitcoin's price continues to rise and clears the $110,000 mark, the entire Layer 1 sector, including SUI, could be poised for a significant rally.

The daily chart for SUI reveals a falling wedge pattern that has been forming since early June. The price has broken out above the upper boundary of the wedge, confirming a shift in market structure. This breakout was accompanied by a large daily candle, jumping over 15%, which indicates strong buying interest. The recovery from the $2.43 support level has established it as a crucial support zone, and a continuation pattern on the SUI chart projects a move toward $3.20 in the near term, followed by potential advances to higher resistance levels.

The primary support level for SUI is now at $2.43, and if the price maintains its position above this range, it could build momentum toward the next resistance zones. The first target is $4.50, which aligns with a previous area of resistance. Above that, the $6.20 zone represents a mid-range target. A sustained rally, supported by broader market movements, could push the asset beyond $10. Crypto Winkle's analysis suggests that larger wallets accumulating SUI could be part of a broader sector rotation into Layer 1 projects. If Bitcoin continues its upward trajectory, these networks may outperform, with SUI potentially leading this trend. A daily close above $3.20 could serve as confirmation of strength and fuel further upside for SUI price.

However, price must first clear a local supply band around $3.10–$3.16. A close above that area could strengthen bullish conviction and attract fresh capital. Moreover, data show daily volume jumping about 50 percent while market cap added 12 percent. Large wallets appear to accumulate, signaling confidence in Sui’s network growth. Additionally, on-chain dashboards record steady inflows to exchange cold wallets, hinting that holders move tokens for long-term storage rather than quick sales.

Consequently, traders identify two major upside checkpoints. The first sits at $4.40–$4.50, matching April supply and Crypto Winkle’s Target 1. The second cluster is near $6.20, where profit-taking pressure could re-emerge. Failure to flip $3.10 support would invalidate the immediate setup and place $2.43 back in focus. Hence, risk management remains vital while momentum builds.

Sui’s decisive bounce, rising volume, and visible whale activity strengthen the bullish narrative. While hurdles persist, the current structure suggests accumulation rather than distribution. Soon, whether bulls can convert momentum into sustained upside will be evident.