SUI Surges 15% as Whales Accumulate: $4.50 Breakout Target in Sight After $2.40 Support Holds
Sui (SUI) has rebounded sharply from the $2.40 support level, signaling a potential trend reversal following a month-long decline. The cryptocurrency jumped 12.5%–15% within 24 hours, reaching $2.79 amid increased trading volume and whale accumulation. Technical analysts highlight a bullish falling wedge pattern, with Crypto Winkle identifying $4.50 and $6.20 as key upside targets.
The $2.40 support coincides with the 78.6% Fibonacci retracement of Sui's late 2023 rally, strengthening its technical significance. Immediate resistance is noted at $3.10–$3.16, where a breakout WOULD confirm sustained bullish momentum. On-chain metrics reveal growing institutional interest, with cold wallet inflows indicating long-term positioning by major holders.
