SUI Price Jumps 7% as Bullish Momentum Builds and New Uptrend Takes Shape

Key Takeaways

• SUI completed a triangle correction on the 1H chart.
• Wave (iv) held above the 0.5 Fib retracement.
• Breakout aims for $4.20–$4.50 as wave (v) unfolds.

Sui (SUI) recently completed a corrective wave and shows signs of a potential continuation in its bullish impulse.

Technical structures on higher and lower time frames suggest the correction may be over, with momentum building toward a possible new high.

This analysis explores the price structure using Elliott Wave theory and Fibonacci retracements to identify trend direction and key levels for a breakout move.

SUI Price Analysis

The 4H chart shows a precise five-wave impulse sequence forming after a lengthy W-X-Y-X-Z correction that ended at the April 7 low of $1.70.

The price broke out of a descending channel, initiating a strong upward move labeled as wave (i), (ii), (iii), and currently in (iv).

The fourth wave retraced below the 0.382 Fib level at $3.17, aligning with classical correction targets.

The Relative Strength Index (RSI) confirmed hidden bullish divergence, suggesting momentum is reviving as buying pressure re-emerges.

The entire upward structure from the April low resembles a textbook Elliott Impulse.

The price held above the 0.5 retracement at $2.93 and never revisited the deeper 0.618 level, indicating trend strength.

Volume also increased on upswings, validating buyer interest.

With wave (iv) likely complete, the next wave (v) target lies in the $4.20- $4.50 zone, aligning with the 0.236 extension and previous resistance.

SUI Price Prediction

The 1H chart reveals the microstructure of wave (iv) as a textbook triangle correction (a)-(b)-(c)-(d)-(e), now likely complete after a breakout from the descending wedge.

The breakout confirms the start of wave (v), supported by RSI exiting oversold territory and printing a bullish divergence at the wave (e) low.

The breakout candle also came with a sharp increase in volume, suggesting institutional activity.

The projected path shows wave (v) aiming toward the previous high near $4.20, corresponding to the 0.236 Fibonacci extension from the overall macro move.

This level also acted as a supply zone in the previous rally.

If the bullish momentum persists and the breakout is sustained, the wave (v) extension could overperform and reach closer to $4.50.

However, failure to hold above $3.50 would invalidate the bullish count and expose downside risk back to $2.93.

Short-term consolidation above $3.40–$3.50 would offer ideal entries before continuation.

Watch for smaller 5-wave structures confirming bullish strength and pullbacks holding higher lows for added confidence in the ongoing trend.

Key Levels to Watch

• Resistance: $3.50 (0.382 Fib), $4.20 (0.236 Fib), $4.50 (wave v target).
• Support: $3.00 (wave iv bottom), $2.93 (0.5 retracement), $2.36 (0.618 retracement).
• Breakout Confirmation: Sustained move above $3.50 with strong volume.