SUI Price Analysis: Bullish Momentum Signals Potential Breakout

Cryptocurrency SUI demonstrated significant upward movement on Monday, trading at $3.1110 with a 3.85% gain over the past 24 hours, according to market data. The token surged to a session high of $3.1554 before settling just above $3.11, supported by robust trading volume that indicated a strong breakout attempt. Crypto analyst Michaël van de Poppe described SUI as "on the edge of a new run towards highs" in a post on X earlier that day, emphasizing its potential for substantial gains if key resistance levels are breached. This bullish sentiment is underpinned by SUI's position as a leading non-EVM chain, with the recent price action reflecting growing trader confidence and accumulation interest during the session.

Van de Poppe highlighted several major on-chain milestones that bolster SUI's appeal. The stablecoin supply on the Sui network has expanded dramatically from $400 million in January to nearly $1.2 billion, showcasing increased adoption and utility. Total value locked (TVL) has reached $1.8 billion, ranking SUI third among non-EVM chains and indicating strong ecosystem health. Wallet adoption is accelerating, driven by integrations such as Phantom and the launch of Slush, the rebranded SUI wallet. Additionally, SuiLend, the protocol's lending platform, experienced a 90% surge in TVL over the past month to exceed $600 million, signaling heightened user engagement and institutional flows. These fundamentals, combined with the token's bullish chart behavior, suggest SUI is primed for a breakout if it can sustain momentum above critical levels.

Technical Breakdown and Trading Signals

Detailed technical analysis reveals a consistent uptrend for SUI during the session, with prices ranging from $2.9742 to $3.1554, marking a 6.09% intraday move. Resistance at $3.08 was decisively broken, establishing new support in the $2.96 to $2.97 range, which provides a solid foundation for further gains. Volume data confirmed broad accumulation interest, with over 12 million units traded between 01:00 and 07:00 GMT, indicating strong buyer activity. A significant volume spike exceeding 1 million units occurred at 13:56 GMT, propelling SUI through the $3.12 level and initiating a breakout. Between 13:56 and 14:03 GMT, price action remained resilient, forming a new support band around $3.12. Toward the session end, SUI advanced from $3.09 to $3.13 in a 1.29% move, with bullish continuation patterns intact, suggesting sustained upward pressure and minimal pullback.

For traders, Van de Poppe identified $3.30 as a key liquidity zone; a daily close above this level could spark a rapid ascent to new highs, potentially targeting the $3.50 to $4.00 range based on historical price action. Entry opportunities exist near the $3.12 support band, with stop-losses advisable below $2.96 to manage downside risk. Volume spikes serve as reliable confirmation signals for breakout trades, while correlations with broader market indicators like Bitcoin and Ethereum should be monitored for context. Given SUI's strong fundamentals and technical setup, it presents a high-reward trading opportunity with defined risk parameters. Investors should watch for follow-through volume and key resistance tests to capitalize on potential momentum shifts in the coming sessions.