SUI Reclaims Key Breakout Level After 10% Price Bump, Bullish Momentum Could Send It to New Highs

Sui Network’s native token, SUI, has reclaimed a crucial level after its 10% price breakout. The token has shown bullish momentum over the past few days

Sui Network’s native token, SUI, has reclaimed a crucial level following its 10% price breakout on Wednesday, as the cryptocurrency showed bullish momentum in recent days.

SUI price is up 5.5% in the past 24 hours. Image: Benzinga Pro

The token rose to weekly highs on Wednesday morning, with various market watchers suggesting the momentum could send the cryptocurrency to new highs in Q2 2025.

What Happened: One of the cycle’s leading tokens, SUI, tested the $2.60 resistance for the first time in nearly three weeks after reclaiming a key support zone on Tuesday. The cryptocurrency has lost several crucial levels during the Q1 2025 retraces, falling over 50% from its January all-time high (ATH) to a four-month low of $1.96.

However, it has regained momentum amid institutional adoption, including its partnership with World Liberty Financial (NYSE:WLIH) (WLFI), former US President Donald Trump’s crypto venture, and Canary Capital’s recent filing of a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC).

The cryptocurrency moved toward the $2.45 mark in the following days, suggesting that holding this level could send SUI to the next crucial barrier. After pulling back to $2.20, the token’s momentum resumed on Saturday, rising 13% in the past week after printing five consecutive green candles.

Among its performance, some analysts noted that SUI reclaimed the key $2.40 support, which served as a significant resistance during the post-US elections breakout and a bounce zone during the February retraces.

Analyst Michäel van de Poppe suggested that the token is "one to keep an eye on," highlighting that the "tremendous" retest of the high timeframe support "indicates that we’re likely going to expand to the upside from here."

One token to keep an eye on is $SUI.

Really tremendous test of the high timeframe support, which indicates that we’re likely going to expand to the upside from here.

As such, we might be able to see a move towards the $2.80-$3.00 zone.

Also, SUI has broken out of a multi-month falling wedge pattern. A retest and confirmation of the breakout level could propel the token to attempt to reclaim its two-month downtrend.

Analyst Sjuul from AltCryptoGems considers that the cryptocurrency should be "ready to go" to the $2.80 mark, based on its "bullish market structure and nice strength."

Previously, Ali Martinez suggested that after reclaiming the $2.45 level, SUI would be poised for a 15% move to this area.

Moreover, the token could also surge toward a new high if history repeats itself. Since 2023, SUI has broken out of a multi-month falling wedge twice, in October 2023 and August 2024, which propelled the cryptocurrency to new ATHs in the coming months.

Finally, trader Crypto Bullet noted that the cryptocurrency has recently reclaimed the 365-day Exponential Moving Average (EMA) after trading below it over the past few weeks. According to the trader, holding this level as support could impulse the token’s rally toward its January high of $5.37.

SUI is currently trading at $2.58, up 5.5% in the daily timeframe.