The SUI price has soared past its key support level, confirming a bullish retest. Strong technical signals and increasing institutional adoption are driving the network toward a $7 price target, according to analysts. 📈
Key factors fueling this upward trend include: a clean breakout from a months-long symmetrical triangle, institutional partnerships like Sygnum Bank’s offering of SUI services and Grayscale’s launch of investment trusts, and an increase in trading volume on the DEX aggregator, which is boosting liquidity.
Analysts highlight the price rebound at key levels. A retest above $3.7-$3.8 support confirms a strong demand zone, with immediate resistance positioned near $4.24. Historical trends suggest that breaking past this level could accelerate further growth.
The price structure projects a staged climb towards $6.89, aligning with the $7 target. Additional targets are also identified at $5.25 and $5.3 – areas likely to be tested in the coming days.
Institutional momentum is increasing as Sygnum Bank enters as an official banking partner for SUI, further bolstering its credibility among global investors.
As trading activity on DEX aggregators surges past Base and BSC, it signals a growing DeFi ecosystem within the Sui network. This confluence of factors provides a promising landscape for continued growth in SUI price.