- SUI has surged 70% after breaking a 108-day resistance, fueled by strong technical indicators and strategic partnerships in the BTCfi sector.
- The token is on track to test key resistance levels, with a potential move toward $4 as its next target.
SUI has emerged as one of the standout performers in the crypto market this week, delivering a jaw-dropping 70% rally since its April lows. This surge marks a powerful breakout from a 108-day descending resistance trend line, reigniting bullish sentiment and sparking speculation that the token could soon hit the $4 mark.
A Breakout Fueled by Momentum and Partnerships
On April 7, SUI slipped below the $2.05 support zone to touch a low of $1.71. But rather than collapsing further, the token staged an impressive comeback, reclaiming its support zone and forming a higher low—a key bullish signal.
The momentum received a boost from SUI’s announcement of strategic partnerships within the emerging Bitcoin-powered DeFi (BTCfi) sector. Collaborations with Lombard Finance, RedStone, Cubist, and Babylon have positioned SUI at the forefront of BTCfi innovation, reinforcing investor confidence.
Technical Indicators Signal More Upside
On the technical side, SUI’s daily chart flashes strong bullish signals. The Relative Strength Index (RSI) and MACD are both in bullish territory, confirming the upward trend. More importantly, both indicators flashed bullish divergence before the breakout, adding legitimacy to the current rally.
SUI recently hit $2.97 and is now approaching a key resistance level at $3.25—a threshold it hasn’t crossed since February. If this level is breached, the next target lies at the 0.5 Fibonacci retracement level of $3.54. From there, the price could climb even higher.
Eyes on the $4 Mark
Wave analysis suggests the token has completed a long-term five-wave downward movement and is now in the midst of a corrective rally. According to the wave count, SUI is currently in sub-wave three of a five-wave structure within wave A. This structure could take the price to as high as $3.98, aligning with the 0.618 Fibonacci retracement level.
The current bullish trajectory supports the idea that SUI could soon test the $4 mark, especially if it maintains momentum and clears the $3.25 and $3.54 resistance levels.
With technical indicators aligned, a major resistance breakout, and strong partnership news, SUI is riding a wave of bullish momentum. While short-term resistance at $3.25 and $3.54 may slow its advance, the broader outlook remains positive. A move to $4 is no longer a long shot—it’s becoming a real possibility.
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
About the Author
