SUI Breaks Out of Wedge—2x Rally Now in Play?
Sui (SUI) has reignited its bullish momentum, gaining nearly 13,4% over the past week amid a broader market recovery. After rebounding from key support at $2,00, the token is now trading around $2,58 with a 24-hour volume of $3,02 billion and a market cap of $6,5 billion. The shift from bearish to bullish sentiment has helped position SUI for further upside.
Technical Setup Hints at Breakout Continuation
SUI recently broke out of a descending broadening wedge—a technical pattern often preceding large rallies. This breakout suggests the potential for a significant price surge, possibly doubling SUI’s value if momentum continues. The immediate resistance lies at $2,80, a level that could open the path toward $2,90 and higher if cleared with volume.
Key Support Levels and RSI Outlook
The token is holding near critical support at $2,71, with fallback zone at $2,55. A drop below $2,49 could lead to a deeper pullback, but current conditions remain bullish. The RSI is at 64,49, indicating strong momentum but hinting at possible short-term cooling.
According to World Of Charts, the breakout from the wedge marks the end of SUI’s consolidation phase. Analysts now eye a potential 2x move in the near term, especially if $2,80 flips into support. As long as SUI holds above key support levels and the broader market remains strong, a continuation toward new highs appears increasingly likely.
