Sui price, currently at $2.74, has broken out of a falling wedge and rising parallel channel, suggesting bulls are taking control.
This recent surge has sparked excitement among traders and analysts, as it echoes past patterns that triggered notable rallies for Sui.
Beyond the charts, strong on-chain activity and a recent spotlight from Grayscale underline the growing momentum behind the Sui blockchain.
Sui price breakout signals bullish momentum
Late March 25, 2025, the Sui price broke from a falling wedge pattern on the 4-hour and daily charts.
A falling wedge forms when price action creates converging downward-sloping trendlines, with the upper line dropping more sharply than the lower one.
This setup often signals waning selling pressure and sets the stage for a bullish reversal.
After the falling wedge breakout, SUI has gone ahead to break out of a rising parallel channel, suggesting bulls are slowly taking control after a period of relentless selling pressure.
4-hour SUI price chartDaily SUI price chart by TradingView
For SUI, this isn’t uncharted territory—similar breakouts in mid-2023 and late 2023 paved the way for significant rallies, lending credibility to the current move.
Adding fuel to this bullish outlook, the Sui blockchain boasts impressive on-chain metrics.
Its transfer volume has soared to $73.85 billion, outpacing TON’s $49.46 billion, reflecting robust economic activity.
Sui also ranks among the top three chains for capital inflows over the recent 24-hour periods, trailing only Base and OP Mainnet, according to Artemis data.
A favorable inflow-to-outflow ratio further suggests rising confidence and liquidity, strengthening the case for Sui coin’s upward trajectory.
Also, currently trading at $2.74, Sui has cleared the $2.50 psychological barrier, showing signs of healthy accumulation, with volatility easing and higher lows forming since its recent bottom.
While the RSI on the 4-hour chart is currently in the overbought region, signaling a possible pullback, on the daily chart, the RSI sits at around 57, showing there is still room for more bullish movement.
In addition, a bullish MACD crossover has already taken place on the 4-hour and daily charts, confirming the bullish trend.
With these signals aligning, Sui crypto appears on track to test the $3 resistance level soon.
Grayscale highlights Sui’s potential to challenge Ethereum
Beyond the charts, Grayscale, a prominent name in digital assets, has turned its attention to Sui, spotlighting its potential to chip away at Ethereum’s market share.
Ethereum has long reigned as the go-to platform for smart contracts and decentralized finance (DeFi), making Grayscale’s endorsement of Sui a big deal.
The analysis points to Sui’s unique features and expanding ecosystem as reasons it could emerge as a serious contender.
A standout factor in Grayscale’s view is Sui’s DeFi innovation, particularly through Steam’s Automated Market Maker (AMM).
Unlike conventional AMMs, where much of the liquidity sits idle, Steam optimizes capital efficiency by integrating all liquidity into Sui’s lending protocols.
This not only maximizes the use of funds but also boosts yields for liquidity providers, making the Sui blockchain a magnet for DeFi enthusiasts.
Such advancements signal a fresh approach that could draw users away from Ethereum’s crowded ecosystem.
Sui’s technical strengths further bolster its case. With high transaction throughput and minimal fees, the Sui crypto network offers a scalable alternative for developers and users.
Sui processes a vast number of transactions per second without sacrificing security or decentralization, areas where Ethereum still grapples with bottlenecks.
Grayscale’s focus on these attributes highlights why Sui could gain ground in a competitive market.
As the Sui crypto price eyes $3 and Grayscale amplifies its potential, the coming weeks could prove critical for SUI.
The combination of a technical breakout and institutional recognition paints a promising picture.
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