SUI Must Reclaim $3.60 to Confirm Uptrend

SUI has faced persistent selling throughout the week, struggling to regain bullish momentum after a failed breakout attempt.

On April 29, the token briefly surged above the $3.85 resistance, sparking hopes of a potential trend reversal. However, this rally was quickly extinguished as the asset ran into strong resistance, which triggered a wave of profit-taking and initiated a downturn.

Following the rejection, SUI slipped below multiple key support levels, with bears tightening their grip on the market. Despite a brief bounce attempt on May 1, buyers failed to reclaim control, and the token resumed its descent. By May 4, SUI had fallen below the $3.20 mark, its lowest point of the week, reflecting sustained bearish sentiment.

A consistent series of red daily candles from May 2 to May 4 highlighted the sellers’ strength, while declining trading volume signaled fading market interest. The token is now precariously close to the $3.10 support level. If this level fails to hold, the psychologically significant $3.00 threshold could become the next downside target.

SUI Must Reclaim $3.60 to Confirm Uptrend

Despite the current weakness, there is a ray of optimism in the latest technical analysis shared by Rose Premium Signals. According to their $SUI/USDT weekly outlook, SUI has recently broken out from a descending wedge pattern, a formation often associated with bullish reversals in cryptocurrency analysis.

This breakout suggests a potential shift in trend, provided that the asset can maintain strength above the breakout zone. The analysis identifies the $2.95–$3.10 range as a critical long-entry zone, offering traders a potential high-probability re-entry opportunity if the price retests this region.

As long as SUI remains above this range, the broader bullish setup remains valid. Potential upside targets have been identified in the latest analysis, with key price levels to watch. The first target is set at $5.1060, suggesting a significant move could be on the horizon if current momentum continues. A more ambitious target is placed at $6.4860.

However, for this bullish outlook to materialize, bulls must reclaim momentum with strong volume and push the price back above the $3.40–$3.60 resistance zone. Without such a move, the near-term bias remains tilted to the downside.

SUI now stands at a crossroads. Whether it breaks lower or stages a rebound from the wedge breakout zone will likely determine its next major trend. All eyes remain on the $3.10 support, and the bulls’ ability to defend it.