SUI Price Breaks Bearish Trend, Eyes New ATH in Q2 2025
The SUI price has recently broken above the bearish trend that had been holding it back since the beginning of the year, when it reached a new all-time high above $5.3. This breakout has sparked a fresh upswing, potentially securing an important resistance level. The question now arises whether the SUI price will achieve a new all-time high in the second quarter of 2025.
SUI Ecosystem Thrives
The SUI ecosystem has been rapidly expanding and has emerged as one of the top-performing platforms in the market. The decentralized exchange (DEX) volume on the platform has exceeded $80 billion, with the best-performing tokens in the top 100 originating from the SUI ecosystem. Additionally, over $12 million in short positions have been liquidated in the last 24 hours, indicating a growing optimism among market participants for the upcoming price action. This surge in optimism could potentially drive the rally towards a new all-time high.
Technical Analysis
On the daily chart of SUI, the token has broken free from the bearish influence by breaking out of a falling wedge pattern. This breakout signifies an increase in bullish activity. The supertrend has turned bullish, and a move above the resistance zone between $2.8 and $2.85 could pave the way for a push above $3 in the near future. The next key level to watch is the 200-day moving average at $3.17, which could trigger a strong bull run once breached.
Technical indicators are also favoring the bulls, with the MACD on the verge of entering positive territory and the RSI poised to climb above the upper threshold. The ADX is showing signs of a bullish divergence, indicating a potential increase in the strength of the rally. The Chaikin Money Flow (CMF) has surged above 0, suggesting a rise in the inflow of money into the token.
Price Outlook
As per the technical analysis, the SUI price is likely to maintain its upward momentum and reach $3.3 by the end of the month, with further gains expected thereafter. The path seems clear for SUI to aim for a new all-time high as the bullish trend continues to strengthen.