SUI surged nearly 40%, breaking out of a long-term downtrend and reclaiming key support at $2.33, with bullish technical indicators suggesting the start of a new uptrend.
SUI climbed to 11th in market cap, surpassing AVAX and LINK, while Grayscale launched a dedicated SUI trust, signaling growing institutional interest.
Analysts highlight resistance at $3.39 and $3.78, but if SUI holds above the $2.33–$2.50 zone, it could target previous highs near $5.00–$6.00 in the coming months.
Something’s shifting in the charts—and this time, it’s SUI making waves.
After months of dragging through a slow grind lower, SUI suddenly flipped the script. Up almost 40% in just a short burst, the coin’s shot up the ranks—now sitting 11th by market cap, ahead of Avalanche (AVAX) and Chainlink (LINK). Yeah, it’s moving fast.
And it’s not just retail buzz—Grayscale launched a SUI trust, signaling serious institutional eyes are starting to lock in.
The Downtrend’s Dead—SUI’s Reversal Looks Real
Crypto analyst Rekt Capital was one of the first to flag the move. “SUI has broken its Downtrend, rallying almost +40% since doing so,” he noted. And if you look at the weekly chart? He’s not wrong.
SUI had been slipping since peaking near $6.00 earlier this year, caught in that classic descending pattern. But it’s now busted through that downtrend line, and with conviction too—not just a weak little bounce.
Even better? There’s talk of an inverse head and shoulders pattern on the chart. For those less technical, it’s basically one of the more reliable signs that a downtrend might be flipping into an uptrend.
“The market structure for SUI is looking much more positive now,” says Rekt. It recently reclaimed the $2.33 level, a key zone that matches up with the old trendline. That kind of retest is what gives a breakout real legs.
With that move, SUI now sits just outside the top 10, flipping both AVAX and LINK. It’s not just a fluke—there’s growing momentum behind the project.
And then there’s Grayscale, which—out of the blue—dropped news of a dedicated SUI trust. That’s big. It gives institutional and accredited investors a way to gain exposure to SUI without needing to deal with wallets or self-custody.
“Grayscale opened a #SUI trust today, showing institutional growth,” Rekt highlighted.
It’s not just a technical setup anymore. The fundamentals are syncing up, and that’s when things start to move fast.
Where’s SUI Headed Next?
If this rally holds, the next technical resistance zones are $3.39 and $3.78. Those will be tricky. But as long as SUI stays above that $2.33–$2.50 support, the chart looks bullish, plain and simple.
If momentum keeps building, and institutions keep creeping in? Don’t be surprised if it starts heading back toward that $5.00–$6.00 range from earlier this year.
The takeaway? SUI’s breakout isn’t just noise—it’s getting backed by both the charts and the suits.
Drop Gorn enjoys watching anime and reading Manhwas and Light novel. Constantly honing his Forex trading and Video editing skills. When seeking moment of peace, rock music is his comfort.
