SUI is leading the crypto market with a 56% surge over the past seven days, reigniting bullish sentiment toward the token. Amid its price recovery, some analysts suggested that the cryptocurrency is about to start a massive rally toward new highs.<\/p>\n
On Thursday, SUI, one of the leading cryptos of this cycle, saw an 11% daily jump to break above a crucial barrier. The token has been in a multi-month downtrend since hitting its all-time high (ATH) of $5.35 four months ago.<\/p>\n
Throughout the 2025 corrections, the cryptocurrency has 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.<\/p>\n
In March, the token surged<\/a> to this key region following the news of institutional adoption, including Canary Capital\u2019s filing of a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC).<\/p>\n Ultimately, it failed to confirm the breakout and turn this level into support, dropping to pre-US election breakout levels in the following weeks. Nonetheless, SUI\u2019s 56% weekly breakout has sent the cryptocurrency back above the $3.00 and $3.20 levels, lost in March.<\/p>\n 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<\/a> the cryptocurrency to new ATHs in the coming months.<\/p>\n After Today\u2019s surge to the $3.39 mark, the token has retraced toward the $3.25-$3.30 levels, with market watcher Hov noting<\/a> that SUI sits at a key resistance zone between the $3.30-$3.70 price range.<\/p>\n To the analyst, the cryptocurrency must \u201ccarry through this level and get a HTF close above 3.72ish\u201d for bullish confirmation. After this, he suggested that SUI would likely \u201csee a retest of resistance turned support.\u201d This would put the $4.00 resistance and new ATH \u201con the menu\u201d if it holds.<\/p>\n On the contrary, failing to reclaim this key zone could halt the bullish momentum<\/a> 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.<\/p>\nPrice Sitting At Key Level<\/h2>\n