SUI Price To Break Above $4 Soon, Only If…

SUI coin price was showing strong signs of a potential breakout as it formed a symmetrical triangle pattern. Traders and analysts closely monitored the $3.00 to $3.20 key levels, as SUI consolidated with higher lows and lower highs.

The breakout could push the SUI price toward the $4.40 target, offering a possible upside of 26%.

SUI Coin Symmetrical Triangle Formation Built Momentum

On the 12-hour chart, SUI coin price traded inside a symmetrical triangle, suggesting a battle between buyers and sellers. The $3.00 level has acted as a strong psychological support after forming a double bottom. Conversely, the $3.20 resistance zone has repeatedly blocked upward movements.

A breakout from a symmetrical triangle pattern often leads to strong price movements. If the it could break above $3.20 with strong volume, it could have moved toward $4.40.

Volume confirmation was essential to validate any breakout, while a lack of volume could signal a potential false move.

The SUI/USD chart showed that SUI coin price recently consolidated around $3.48. The volume increased during consolidation, suggesting accumulation by traders. Fibonacci retracement levels at $3.31 and $3.00 offered possible support in case of a pullback before the breakout.

Whale Activity and Liquidations Signal High Volatility

Large traders, often called whales, have shown consistent interest in SUI. On April 25th, whale purchases peaked at $3.65 with steady accumulation from $3.71 to $3.8. Whale purchase percentages ranged from 0.3387% to 0.5085%, signaling increasing involvement.

Despite a 27.05% price increase over 24 hours, SUI coin’s price experienced a slight decline of -0.03%, suggesting some profit-taking. Analysts observed that whale activity often leads to large market swings, creating opportunities and adding risk.

The Total Liquidations Chart showed a spike in both long and short liquidations. Long liquidations rose as price increased. It suggested that many leveraged traders were caught off guard.

Short liquidations also climbed during rallies, showing that bearish traders faced losses. Such conditions often reset the leverage in the market, allowing healthier price movements afterward.

Technical Indicators Supported the Bullish Case

Most of the technical indicators were supporting a bullish continuation. The Relative Strength Index (RSI) was at 55.56, indicating that SUI was not overbought. It showed that there was room for further upside.

The Moving Average Convergence Divergence (MACD) showed a slight bearish divergence. However, tightening histogram bars suggested a possible shift in momentum.

SUI coin price recently broke out of a double bottom pattern, closing at $2.96 on April 23rd, after a 47% surge. Traders were watching closely in case the price retested the breakout neckline without breaking below $2.52.

If support holds, the SUI price could still climb to the next major resistance at $5.30, matching previous highs.

Support levels around $2.00 to $2.10 are considered crucial. A drop below this zone could put bearish pressure on the asset. However, current market behavior, whale accumulation, and rising social interest indicate a favorable environment for bullish continuation.

SUI Network Growth and Trading Volume Signal Possible Breakout Above $4

SUI has continued to attract attention after adding $218 million in USDC and around $60 million in USDT to its network in the past month. It brought SUI’s total stablecoin holdings to $876 million.

It stacked stable assets nearly eight times faster than the XRPL network via RLUSD, even though SUI coin’s market cap remains over ten times smaller than XRP.

According to Grayscale’s analysis on April 25, Layer-1 blockchain projects showed increased demand with SUI emerging as a notable example because its “Speed and scalability matters and the technology that SUI is building is attracting attention.”

The cryptocurrency market witnessed it becoming the first coin to surpass XRP by trading volume. It hit $3.6 billion, while XRP traded at $3.5 billion in the 24-hour period. This represented a historic achievement in the world of trading activity.

However, LunarCrush social data metrics suggested that it maintained the highest level of social engagement throughout the previous two days.

Analysts predicted that SUI coin would break through $4.00 after a successful upward breakout only if the $3.00 support level stood firm while getting confirmed through increased trading activity.

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