- SUI has bounced from $3.20 support within an ascending wedge, keeping $8–$10 breakout targets in play.
- Technicals align with bullish continuation, supported by Fibonacci retracement and extension levels.
- Trading volume above $1.7B suggests strong interest as traders watch for a decisive breakout.
Sui (SUI) has been making some interesting moves lately. After testing a major support level, the token has bounced back, sparking speculation about whether it’s gearing up for a run toward the $8–$10 range. Traders are watching closely as SUI keeps moving within an ascending wedge — a formation that often points to continuation of a bullish trend.
Strong Support Holding at $3.20
The weekly SUI/USDT chart shows a clear and well-tested support around $3.20. Each time price has tapped this level, buyers have stepped in, stopping further decline. Above, the wedge’s upper boundary — sitting in the $8 to $10 area — marks a possible breakout zone. Technical indicators add weight to the bullish case, with a recent bounce off the 0.618 Fibonacci retracement level and a 1.618 extension target aligning near $10. Well-known analyst CryptoBullet has highlighted this exact setup, calling the target “very much alive.”
Bullish Structure and Market Activity
Price action has been forming higher lows and higher highs, a textbook sign of bullish momentum. The latest rebound has kept SUI in the lower half of the wedge, but pressure seems to be building toward the upside. At the time of writing, CoinGecko shows SUI trading at $3.85 — up 3% on the day and over 8% for the week — with more than $1.7 billion in trading volume over the past 24 hours. That kind of liquidity paired with stability near support often foreshadows a bigger move.
Breakout Watch
For bulls, holding above $3.20 is step one — the real trigger will be a decisive break over wedge resistance. If that happens, the $8–$10 zone, backed by Fibonacci levels, becomes the next logical destination. Until then, traders remain on alert, ready to confirm whether this bounce marks the start of SUI’s next leg higher.
