SUI Smashes Into $3.70 Wall—Can Bulls Force a 35% Breakout?

SUI’s rally hits a brutal resistance level at $3.70—traders are watching for signs of exhaustion or continuation. A clean breakout could spark a 35% surge, but only if Bitcoin stops ghosting the altcoin market.

Key levels to watch: Hold above $3.20 for bullish momentum, but failure here might trigger a ’risk-off’ cascade. Meanwhile, institutional traders are already placing bets—somebody’s paying for those yacht upgrades.

Bullish on-chain metrics 

Data from Coinglass reveals that traders and investors hold differing views on the altcoin.

According to Spot Inflow/Outflow metrics, exchanges across the globe witnessed a significant outflow of $40 million worth of SUI coins over the past three days.

Naturally, such large outflows often signal accumulation as traders move coins to wallets, reducing exchange supply and potential sell pressure.

Of course, during downturns, this behavior can also cushion the downside by limiting sudden dumps.

Source: Coinglass

Meanwhile, SUI’s OI-Weighted Funding Rate stood at +0.0066%, confirming bullish pressure from long-position holders. 

Source: CoinGlass

Data further reveals that the Binance SUIUSDT Long/Short ratio stood at 1.33, indicating strong bullish sentiment among traders, which explains the positive Funding Rate.

Additionally, 57% of top SUI traders on Binance hold long positions, while 43% hold short positions.

On top of that, SUI traded near $3.55 at press time, posting a 0.75% gain over the last 24 hours. Trading volume rose by 15% during the same period, signaling renewed interest and stronger market participation.

SUI price action and technical analysis 

According to expert technical analysis, the altcoin appears to be in a make-or-break situation, which could either rally or plummet, as it currently depends on market sentiment.

On the daily timeframe, SUI price appears to be consolidating in a tight range between $3.27 and $3.83 for the past week.

Source: TradingView

This pause came after a 75% rally, sparked by a breakout from a descending trendline. Naturally, this setup now leaves the asset at a key decision point.

If SUI closes above $3.90 on the daily chart, it could confirm the breakout and target $5.50—a 35% potential move.

However, failure to breach resistance could invalidate the bullish thesis and lead to a reversal.