SUI Eyes Key Retest As Price Breaks Out Of Downtrend – Rally To $3 Ahead?

Amid the current market volatility, SUI is trying to carry a key degree as assist following its breakout from a neighborhood resistance. Some analysts have instructed that if momentum holds, the altcoin might be getting ready for a 50% rally to the subsequent main resistance.

SUI Recovers Major Support Zone

On Tuesday, SUI retested an important space as assist after recovering from the current market crash and breaking out of a one-month downtrend line. The altcoin traded between $2.30-$3.00 after the October 10 correction, when the cryptocurrency briefly crashed by over 87% to $0.50.

However, the early November pullback despatched the worth under the native vary and to seven-month low ranges. Last week, SUI closed under the $2.00 barrier for the primary time since April, briefly retesting the $1.80 space.

After bouncing from this zone, the altcoin surged above $2.00, retesting this degree as assist over the weekend. As a consequence, SUI’s worth began the brand new week reaching a one-week high of $2.20 on Monday, earlier than retracing alongside many of the market on Tuesday morning.

Amid its restoration, analyst Ali Martinez just lately highlighted that the TD Sequential indicator flashed a purchase sign for the cryptocurrency, suggesting that the underside might be in and a rally to greater ranges is subsequent.

The analyst later confirmed the purchase sign, including that “sustained shopping for stress right here may push it to $3 and even $4.” Adding to the potential momentum, the Sui Network announced a partnership between the trade Crypto.com and the Sui Foundation, the group behind the adoption and development of the ecosystem.

According to the announcement, the trade has launched regulated custody and liquidity assist for SUI, giving establishments’ shoppers “a safe, compliant solution to retailer, handle, and entry deep liquidity for SUI.”

Downtrend Breakout Eyes 50% Rally

Offering a broader outlook, market watcher Daan Crypto Trades noted that the cryptocurrency continues to commerce inside its massive greater timeframe (HT) space, at present retesting a make-or-break zone.

Notably, SUI has been hovering between the $2.00-$4.00 ranges for many of the cycle, with the vary’s decrease boundary serving as a significant assist zone since late 2024. Now, the worth “is holding initially on this greater low,” however should present short-term energy to interrupt out from this space.

Per the publish, the altcoin has additionally damaged out of its one-month diagonal resistance, which may ship the worth again to pre-November pullback ranges. Currently, SUI’s worth is retesting the downtrend line as assist, which may flip the correction right into a deviation and propel a transfer again above $2.30.

“That’d be a stable signal of energy for me that this may be due for a bigger reversal,” the dealer added. Similarly, analyst Crypto Kaleo highlighted the current efficiency, affirming that “when SUI breaks out of a significant downtrend, it rips.”

As he identified, the cryptocurrency broke out of comparable downtrends through the May and July rallies, hovering greater than 50% inside every week. Therefore, if the altcoin holds the present ranges, its worth may bounce to the $3.00 barrier within the brief time period.

Nonetheless, he warned that the 2 earlier breakouts additionally noticed some volatility after the preliminary transfer, suggesting one other retest of the downtrend line may occur earlier than the subsequent leg up.

As of this writing, SUI is buying and selling at $2.07, a 3.8% decline within the every day timeframe.