the Normal price It is showing renewed bullish momentum after breaking out of the prolonged consolidation range that has limited the cryptocurrency for nearly three months. Also on a larger scale Crypto market Bitcoin is recovering along with BTC rising above key levels, SUI has started to outperform several altcoins with a strong breakout above the psychological $1 mark.
The recent rally has pushed the price of SUI above $1.10, while traders are now speculating whether the bullish momentum could lead to another 20% upward move in the coming weeks.
SUI price breaks out of multi-month consolidation range
The daily chart indicates that SUI has finally survived a long accumulation phase after trading within a wide range of approximately $0.85 to $1.03 since February. The recent break above the upper border of the consolidation zone indicates that bulls may now try to start a new uptrend.
The price also reclaimed the key resistance area near $1.05, which served as a key support level before the broader correction phase. SUI is now trying to flip the next crucial resistance level near $1.15, which could define the next phase of the rally. Meanwhile, the Chaikin Money Flow (CMF) index returned to positive territory, indicating improved capital flows and stronger buyer participation during the breakout.
Key levels to watch
- Immediate resistance: $1.15
- Main upside target: $1.32
- Extended upside target: $1.40
- Instant support: $1.05
- Strong support area: $0.90
SUI’s open interest has risen to more than $620 million
The upward momentum is also supported by rising derivatives activity. Data from CoinGlass shows that open interest for SUI has risen sharply from around $450 million to over $620 million over the past few weeks. The increase in open interest combined with rising price action indicates that traders are aggressively opening new positions as bullish sentiment around the token strengthens.
The recent surge in open interest corresponds closely with SUI breaking above the consolidation range and pushing towards the $1.15 resistance area. This suggests that increased speculator participation may support a continued rally.
How much can the price of SUI rise this month?
SUI breaking above its multi-month consolidation range suggests that bullish momentum may continue to build in the coming weeks. Higher capital inflows and higher open interest rates support the possibility of a larger expansionary move.
If the bulls succeed in turning the $1.15 resistance area into support, the SUI price could rise another 20% towards the $1.32 area this month. However, failure to stay above the reclaimed breakout zone near $1.05 could dampen momentum and lead to renewed consolidation.
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