• SUI gains 2.03% daily and 2.36% weekly, sustaining momentum.
• The analyst notes a bullish triangle, $2B TVL, and 45M wallets as key strengths.
• The cup and handle pattern signals a breakout, with targets at $8.07, $9.55, and $12.28.
• Derivatives data shows $1.91B open interest, reflecting bullish participation.

SUI is on a positive price trajectory, gaining further strength as it moves in line with the broader bullish market trend. Over the last 24 hours, the token climbed 2.03%, while weekly performance shows a 2.36% rise.

At the time of writing, SUI is trading at $1.470, supported by a trading volume of $1.17 billion, up 13.22% in 24 hours. Its market capitalization now stands at $12.32 billion, reflecting the asset’s growing significance.

A crypto analyst noted that SUI is consolidating in a bullish triangle, forming a strong base for growth. With TVL surpassing $2 billion, 45 million wallets, and exposure through Grayscale and VanEck, expanding use cases in payments, GameFi, and tokenization raise expectations of double-digit pricing.

Also Read: SUI Chart Signals Strong Uptrend, Eyeing $6.50–$7 in Coming Weeks

SUI Technical Indicators Point to Breakout

Crypto analyst @Crypto_Inside_ notes that the weekly chart shows a bullish picture with a classic ‘cup and handle’ formation. The cup formed in 2023, while the handle developed in 2024–2025 as a descending triangle or wedge, often a precursor to a breakout. The current price of $3.51 positions the token within this handle.

Resistance lies between $4.75 and $5.00, serving as the neckline of the pattern. A confirmed breakout above this zone could pave the way to Fibonacci extension targets of $8.07, $9.55, and $12.28.

The key support is between $2.80 and $3.00, while longer-term support is around $2.00. Support for the EMA ribbon below the price adds conviction to the bullish prediction, while decreased volume during consolidation is consistent with historical breakout behavior.

Derivatives Data Signals Strong Participation

Derivative information highlights increased market action. Open interest is up at $1.91 billion by 0.26%, a sign of increased participation in leveraged positions. It is in line with noticeable spikes in volume activity, which frequently occur at times of significant price action.

The OI-weighted funding rate stands at 0.0100%, indicating a balanced but mildly bullish sentiment. Such conditions decrease the risk for sharp liquidations but still show bullishness dominant in the minds of traders. With a steady increase in activity in trading, it is a signal for gradual but assured participation.

Overall, SUI demonstrates technical and fundamental strength. A conviction breakout above the $5.00 level may solidify a breakout, paving the way for greater levels in the weeks ahead. Until then, observers in the marketplace will watch for support levels and sentiment shifts in an effort to determine if momentum can take the token to its forecasted targets.

Also Read: SUI Price Set to Rally With Robinhood Launch, Eyes $5.40 Target