SUI Tests $2.80 Support as Falling Wedge Pattern Targets $5.00–$5.50 Breakout Zone

SUI forms falling wedge near $2.80, with analysts targeting a breakout toward the $5.00–$5.50 range.

Sui ecosystem growth boosts outlook, with TVL hitting $1.8B and stablecoin volume tripling since January.

$2.80 remains key support as open interest stays above $1.19B and traders await reclaim of $3.00.

SUI is trading at $2.79 after briefly dipping to $2.68 earlier this week. While recent volatility followed broader market pullbacks, analysts suggest that SUI is now testing key technical areas and may be trading at a decent discount. The setup reflects a possible preparation for a new breakout.

Key Technical Patterns Signal Strength Amid Retest

According to analysis prepared by Crypto Bullet via X, SUI has entered a familiar setup, mirroring its March–April breakout. The altcoin previously rallied from similar levels after bouncing off the yearly Exponential Moving Average (EMA) and Moving Average (MA)

Source: CryptoBullet(X)

SUI is now testing those same indicators, forming a new falling wedge pattern that targets the $5.00–$5.50 range. The chart also shows a one-year rising wedge, suggesting a potential move toward $8–$10 if the bullish structure continues

SUI has been consolidating within a wide range since late April, with recent action centered near the $2.80 area. The pattern indicates that the current correction may be short-lived if support holds and price reclaims $3.00.

On-Chain Activity and Ecosystem Growth Add Support

Sui’s network continues to show growth across decentralized finance (DeFi) metrics. As of this week, Sui’s total value locked (TVL) has reached $1.8 billion. According to CoinDCX, Sui now ranks third among non-EVM chains by TVL. Stablecoin volumes have also grown sharply, climbing from $400 million in January to nearly $1.2 billion.

The protocol’s lending platform, SuiLend, has seen a 90% increase in TVL over the past month, now surpassing $600 million. Meanwhile, wallet adoption is rising due to integrations with Phantom and Slush Wallet

Source: Coinvo(X)

Open interest in SUI futures remains above $1.19 billion, despite a recent decline, reflecting continued trader participation. According to trader Coinvo, the $2.80 zone remains a critical support. A move above $3.00 could confirm strength and allow a push back toward the $4.00–$5.00 range.

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