SUI Primed for Bullish Breakout as Technicals Signal Accumulation Phase
Sui's layer-1 blockchain has emerged as a top performer in 2024, delivering 432% gains before stabilizing at $3.25—a 15% pullback from recent highs. The token is showing signs of accumulation, currently testing the upper boundary of a descending wedge pattern while maintaining strong support at $3.10.
Analysts note SUI's resilience during recent market corrections, with its developer-friendly architecture positioning it alongside leaders like Hyperliquid for potential dominance in the next cycle. Traders are watching for confirmation of bullish momentum as the token approaches untested resistance levels.