SUI Surges 20% in Market Rally—Can It Smash Through $3 Next?

Move over, laggards—SUI just clocked double-digit gains as crypto markets rebound. The Layer 1 token’s rally has traders whispering about a potential $3 breakout.

The Pump No One Saw Coming

While Bitcoin dawdles below all-time highs, SUI’s price action screams ‘catch me if you can.’ No fancy fundamentals here—just pure, unfiltered market momentum.

Wall Street’s Nightmare Fuel

Traditional finance types are clutching their pearls as altcoins like SUI defy ‘rational’ valuation models. Meanwhile, degens are too busy counting paper profits to care.

One thing’s clear: in crypto, the ‘dumb money’ keeps getting smarter returns. Will SUI’s rally hold? Your guess is as good as any hedge fund’s ‘proprietary model.’

While Bitcoin (BTC) and other major altcoins have led the market uptick, SUI stands out as a strong performer, posting double-digit gains that put it roughly 17% above its lowest point this month.

From a technical perspective, the native token is entering a crucial phase. SUI has been in a strong downtrend for the majority of this month and recently hit a low of $2.29, a price that hasn’t been seen since April. 

Since then, the price has recovered slightly and is now resting at $2.79, a price right on the edge of the trend lines that can be seen on the chart. If the price continues to go up and goes above the $3 mark, there is the likelihood of a market reversal and increased upward momentum.

After that, the next challenge will be to cross the Target 1 price, which was the last local high that was seen during the current downtrend, and the Target 2 price will be the subsequent challenge. 

On the flip side, if momentum stalls, the first level to watch is $2.70, where a local low recently formed. A drop below this area could signal a strong bearish pressure and potentially send the price to the $2.39 low.