- SUI token is holding firm at $2.80 while traders wait for a significant breakout.
- The falling wedge pattern suggests that SUI may rise if it breaks past $3.00 soon.
- Market activity is increasing as traders anticipate sharp price movements in SUI.
Sui is nearing a pivotal moment as its daily chart has formed a falling wedge—a pattern historically associated with bullish breakouts. Crypto analyst Satoshi Flipper has highlighted this setup, noting the narrowing price range as SUI approaches the apex. The token trades at $2.8458, marking a +3.55% gain for the day. The bid-ask spread remains minimal at $2.8359/$2.8360, reflecting heightened market interest. As price action narrows, the likelihood of a sharp breakout increases, with traders closely watching key resistance and support levels.
$2.80 Demand Zone Holds as Buyers Accumulate
SUI has been in a downtrend since peaking above $6.50, forming a pattern of lower highs and lower lows. The wedge’s upper trendline has repeatedly rejected bullish attempts, while a key support zone highlighted in yellow, has served as a strong demand area. This level represents a historical accumulation zone, where buyers have stepped in to absorb selling pressure. The longer SUI consolidates within this structure, the greater the breakout pressure becomes. If the lower boundary holds, a rapid upward move could unfold as sellers exhaust their momentum.
The psychological $3.00 level is the immediate resistance, and a decisive breakout above it could spark strong buying momentum, potentially driving SUI toward $5.00 or higher. If volume accompanies the breakout, past price action suggests a strong rally could follow. However, failure to reclaim resistance could prolong consolidation, keeping traders on edge.
Related: Chainlink, Cardano, and Sui Traders Watch Key Price Levels
Breakout Watch: Will SUI Confirm the Move?
With the wedge pattern nearing its final stages, traders are watching for confirmation. A high-volume breakout above $3.00 could signal the start of an extended bullish run, with technical targets corresponding to previous resistance levels. Conversely, a breakdown below $2.80 could invalidate the pattern, exposing SUI to further downside risk. The increasing price action suggests volatility is imminent, and the next few daily closes could determine the token’s short-term trajectory. Whether SUI surges or stalls, market participants are bracing for the next decisive move.
