SUI Skyrockets 35% in a Week—Is $5 the Next Stop?

Move over, laggards—SUI just ripped past resistance with a blistering 35% rally. The Layer 1 contender's native token is eating dips like appetizers while traders scramble for position.

Breakout or bull trap?

Technical charts show textbook momentum, but let's not pretend this isn't crypto—where 'fundamentals' often mean which influencer meme gets traction. Still, that $5 psychological barrier looks juicy for speculators chasing the next dopamine hit.

Word on the street? VC unlocks and tokenomics matter less when FOMO kicks in. Just ask the 'stablecoin yield farmers' who got rekt last cycle. Onward and upward—until gravity remembers it exists.

SUI Crypto Records Double-Digit Rally!

Over the last week, the sui Network has witnessed a strong bullish run as it has gained over 35%. With a price of $3.88 at press time, SUI has breached out of its important ascending channel channel in the daily chart.

The price movement indicates the major change in the momentum, as SUI had increased more than 11.4% over the past 24 hours. The most recent rally has resulted in the token surpassing its resistance level of the $3.50 and is currently on the verge of retesting the $4.00 mark.

The Stochastic RSI is hovering into the overbought zone and is currently at 93.09 and 90.22 suggesting that SUI may experience a temporary pullback. Furthermore, it indicates a rising demand for the altcoin in the market.

Will Sui Price Surge to $5?

A bullish momentum may push the price beyond the $4 within a short period. Moreover, its upper resistance levels are at $4.50 & $5 in the upcoming time.

However, traders should are cautious since SUI price is constantly failing to break out of the $4.00 mark. Any backward movement on this level might force the price to approach the lower support level at 3.50 and even further to the lower support of 2.93 or 2.40 respectively.

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