Can Bullish Breakout Carve SUI Prices Path To $11.50?

The recent performance of SUI price has generated market interest as it surpassed multiple important resistance levels.

Market analysts have assessed the cryptos potential to maintain its current upward trend to determine if it could reach $11.50 before mid-2025.

SUI Price Bullish Breakout and 2025 Targets

According to analyst TedPillows, SUI price achieved a strong breakout above crucial resistance zones to indicate a forthcoming upward trend.

The cryptocurrency broke through the crucial $2.45 resistance level after several months of consolidation near $2.25. The analyst predicted that SUI will surge toward its next resistance levels above $3.

SUI Price Chart Source: X

Notably, following extensive price consolidation, the altcoin demonstrated accumulation trends before its surge occurred.

The positive market sentiment, along with current momentum, has indicated SUI may sustain its upward trend.

According to the analyst, SUI crypto has the potential to breach past $3.8. It could also reach $4 by May 2025.

Ascending Wedge Pattern and RSI Trend Break

According to Bitcoinsensus analysis, the SUI coin price chart from June 2023 has indicated an ascending wedge pattern. This altcoin has completed its initial bullish pattern by completing Wave 1 and Wave 2.

Wave 3 progress was underway in the market to drive SUI price up toward $5.40. It was also setting conditions for a major price breakthrough.

SUI Price Chart Source: X

Additionally, SUI cryptos bullish outlook received more backing from a positive RSI trend break occurrence on the weekly chart. The recent break showed an accelerating momentum for cryptocurrency adoption. Thus, it indicated that the current trends will continue.

Moreover, the analyst predicted that SUI will break resistance and reach $11.50 by mid-2025 if its current upward momentum keeps rising. The combination of the ascending wedge and RSI break reinforced the expectation of continued price growth.

SUI Price Prediction and Market Trend

Crypton analyst Profit Mind pointed out that SUI crypto recently broke the upper limit of its falling wedge trading pattern observed on daily data. Falling wedges usually operate as bullish patterns. They reveal a potential rally when traders push prices above the upper trend.

SUI Price Chart Source: X

As SUI price broke above the resistance at $2.45, the analyst was eyeing the next significant hurdle: the Ichimoku Cloud. Breaking through the cloud resistance is essential for sustaining the bullish market direction.

Surpassing the Ichimoku Cloud will enable SUI to potentially reach the $5.50 area within the forthcoming weeks.

A combination of the falling wedge rally along with the Ichimoku Cloud breakout demonstrated the potential for additional market growth. If these technical levels could hold, analysts looked optimistic about a steady rise in price over the next few months.

In addition, a double bottom pattern on a TradingView chart revealed SUI crypto breaking through its $3.09 neckline, which signaled a reversal. SUI recently surpassed another neckline price resistance, indicating an ongoing positive trend.

The RSI reading of 56.65 indicated a mildly bullish momentum, while the MACD also signaled a bullish trend, supporting this positive outlook. Consequently, the positive trend at press time could push SUI toward its next resistance point at $5.36.

SUI Price Chart Source: TradingView

Further supporting a bullish outlook, recent analysis indicated that SUI price had broken a key descending trendline. It did so with rising trading volume and bullish patterns forming.

At the time of writing, SUI price had broken through multiple resistance levels, surpassing $2.80 and $3 levels to reach $3.59, with a 6.03% growth in a day.