SUI Technical Analysis on July 29, 2025: Is the Next Bullish Wave Coming?

Technical analysis of SUI on July 29, 2025, focusing on support/resistance and indicators.

SUI Technical Analysis on July 29, 2025: Is the Next Bullish Wave Coming? SUI, a rising star in the blockchain world with its focus on scalability and transaction speed, has been making waves in the crypto market. As of July 29, 2025, SUI is trading around $3.9160, up a modest 0.29% in the past 24 hours. With a trading volume of $2.21 billion and a market cap of $13.53 billion, SUI is carving out a solid spot among top altcoins. But is it gearing up for a major breakout? Let’s dive into the charts, indicators, and market structure to see where SUI might be headed. Market Snapshot and Price Behavior SUI has bounced back from a recent correction, climbing from a low of $3.30 to its current level of $3.91. On the daily chart, it’s moving within an ascending channel and testing a key resistance at $4.11. This level aligns with the 0.618 Fibonacci retracement and the 200-day moving average, making it a formidable technical hurdle. Volume has spiked in this range, signaling strong market interest. But does SUI have the momentum to push through? Key Support and Resistance Zones To predict SUI’s next move, we need to zero in on critical support and resistance levels. The primary resistance sits between $4.03 and $4.11. A clean break above this could propel SUI toward $4.80 to $5.35, both significant technical targets. On the downside, if the price stalls, support at $3.88, which aligns with the middle Bollinger Band and the 0.382 Fibonacci level, should hold firm. A stronger support at $3.30 has also acted as a reliable floor in the past. Why do these levels matter? They’re where traders and algorithms tend to make big moves, and volume surges at these points often signal a trend shift or continuation. What Do Technical Indicators Say? Popular indicators like RSI and MACD offer valuable clues. The Relative Strength Index (RSI) on the daily chart is around 65, showing positive momentum but not yet in overbought territory (above 70). This suggests SUI has room to grow, though approaching 70 could signal a need for caution. The MACD recently showed a bullish crossover, with the MACD line moving above the signal line. This typically signals growing momentum, but traders should watch for any volume decline to avoid false signals. Price Pattern Insights On the 4-hour chart, SUI has formed an ascending triangle, often a bullish signal. This pattern is backed by rising volume at breakout points. That said, some analysts warn that without strong volume support, this could turn into a trap. Traders should look for strong candle closes above $4.11 to confirm the bullish trend. Fundamental Factors at Play Beyond the charts, fundamentals are driving SUI’s momentum. The SUI ecosystem, particularly in DeFi and stablecoin sectors, has seen its total value locked (TVL) surpass $2 billion. On-chain activity and the growth of active wallets (230 million) reflect increasing adoption. However, potential selling pressure from future token unlocks could create short-term headwinds. Trading Strategy Suggestions For traders, patience and risk management are key. Waiting for a pullback to $3.88 could offer a lower-risk entry point. Conversely, a confirmed breakout above $4.11 with high volume might signal a buying opportunity. Either way, setting stop losses is crucial to navigate this volatile market. Wrapping Up On July 29, 2025, SUI is riding a short-term bullish wave, but the $4.11 resistance is a key hurdle. Indicators confirm positive momentum, but traders should stay alert for signs of consolidation. With strong fundamentals and bullish patterns, SUI has potential to hit $5. Can it break through? With careful risk management and a close eye on the charts, you might catch the next big move in this dynamic market.