Sui (SUI) is starting to turn heads again after breaking out of a falling wedge pattern. Traders and analysts are watching closely, and one of them, CryptoWinkle, shared a bullish take on X. He pointed to strong technical signs and growing momentum across Layer 1 tokens as the key reasons behind the setup.
In his post, he mentioned three possible price targets for SUI: $4.50, $6.20, and even a shot at $10. That call is based on SUI price bouncing off the $2.43 support zone, along with signs that bigger wallets have started accumulating.
After weeks of choppy movement, this breakout could be laying the foundation for a bigger move. And if Bitcoin price manages to clear $110,000, the whole Layer 1 sector, including SUI, could be gearing up for the next rally.
Breakout Pattern and SUI Price Recovery
The daily chart for SUI reveals a falling wedge that had been forming since early June. This pattern often suggests a potential reversal in trend. The price broke out above the upper boundary of the wedge, marking a shift in market structure. SUI then posted a large daily candle, jumping over 15% and confirming strong buying interest.
The recovery from $2.43 established that level as a key support zone. A continuation pattern on the SUI chart projects a move toward $3.20 in the near term, followed by potential advances to higher resistance levels.
SUI Support and Resistance Zones in Focus
The $2.43 level now serves as the primary support. It has been tested several times, reinforcing its role in the ongoing setup. If SUI price maintains its position above this range, it may build momentum toward the next resistance zones.
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The first target is $4.50, aligning with a previous area of resistance. Above that, the $6.20 zone represents a mid-range target. A sustained rally, if supported by market-wide moves, could push the asset beyond $10.
CryptoWinkle also pointed out that larger wallets have been accumulating SUI. The tweet suggests that this could be part of a broader sector rotation into Layer 1 projects. If Bitcoin continues upward, these networks may outperform. SUI current structure and reaction at key levels suggest it could lead this trend. A daily close above $3.20 may serve as confirmation of strength and fuel further upside for SUI price.
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