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SUI targets a $4.80 price after breaking out of the bullish flag pattern in the daily chart.
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Trading volume reaches $1.75B, with a 9.35% increase in price. This boosts market activity and momentum.
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The RSI at 62.95, and the MACD signals show bullish movement without overbought condition.
A bullish pattern on the Sui daily chart has attracted attention, indicating a possible breakout which could send the token towards $4.80. Carl Moon, a crypto analyst, shared a TradingView chart of Bybit’s SUI/USDT, which showed a descending trend that followed a strong rally in July.
According to the analysis SUI has broken free of this structure. This opens the door for a 19.28% increase in price from the breakout point. The chart shows the price action from the beginning of June to the end July. $4.80 is the next resistance level.
Market Performance and Trading Activity
SUI is currently trading at $4.00, after a 9.35% increase in the last 24 hours. According to CoinMarketCap, the token’s capitalization is $13.81 Billion. The unlocked market capitalization is the same while the fully-diluted valuation (FDV), is estimated at $39,9 billion.
The trading volume over the same 24-hour period reached $1.75 Billion, resulting in a volume to market cap ratio of 12.68%. This shows a rise in trading activity, as the price recovered from a session-low of $3.62.
Related: Sui (SUI), the next major crypto bull cycle, could be led by Sui (SUI).
Technical Indicators Signal a Continued Momentum
The bullish flag was formed as a result a short consolidation period marked by lower highs, and lower lows. Analysts consider the breakout from this range a major development, estimating a projected move on the basis of the height of rally that preceded the channel. If upward momentum continues, the technical target of $4.80 will act as a key support zone.
Momentum indicators currently support the breakout. The Relative Strength Index is currently at 62.95. This is just below the signal line of 64.97. This puts the token in bullish territory, but does not signal overbought condition. The current RSI level is below the 70 mark, which would indicate excessive buying pressure.
The MACD line is also at 0.2230. This is slightly below the signal line of 0.2240. A histogram value -0.0010 is present. The MACD and the signal lines are almost equal. However, the formation is a continuation of a previous bullish cross-over observed in early July that preceded a significant price increase.
Related: Sui (SUI) Price Prediction 2025, 2026, 2027, 2028, 2029-2030
