The post SUI Breakout Gains Momentum—Can the Price Surge Another 20% in May? appeared first on Coinpedia Fintech News
The SUI price is showing renewed bullish momentum after breaking out of a prolonged consolidation range that capped the crypto for nearly three months. As the broader crypto market recovers alongside Bitcoin’s rise above key levels, SUI has started outperforming several altcoins with a strong breakout above the psychological $1 mark.
The recent rally has pushed the SUI price above $1.10 while traders now speculate whether the bullish momentum could trigger another 20% upside move in the coming weeks.
SUI Price Breaks Above Multi-Month Consolidation Range
The daily chart suggests SUI has finally escaped a prolonged accumulation phase after trading within a broad range between roughly $0.85 and $1.03 since February. The latest breakout above the upper boundary of the consolidation zone signals that bulls may now be attempting to initiate a fresh upward trend.
The price has also reclaimed the key resistance zone near $1.05, which previously acted as a major support level before the broader correction phase. SUI is now attempting to flip the next crucial resistance near $1.15, which could determine the next phase of the rally. Meanwhile, the Chaikin Money Flow (CMF) indicator has moved back into positive territory, suggesting improving capital inflows and stronger buyer participation during the breakout.
Key Levels to Watch
- Immediate resistance: $1.15
- Major bullish target: $1.32
- Extended upside target: $1.40
- Immediate support: $1.05
- Strong support zone: $0.90
SUI Open Interest Surges Above $620 Million
The bullish momentum is also being supported by rising derivatives activity. Data from CoinGlass shows SUI open interest surged sharply from roughly $450 million to more than $620 million over the past few weeks. The increase in open interest alongside rising price action suggests traders are aggressively opening fresh positions as bullish sentiment strengthens around the token.
The latest spike in open interest closely aligned with SUI’s breakout above the consolidation range and its push toward the $1.15 resistance zone. This indicates growing speculative participation may be supporting the ongoing rally.
How High Can SUI Price Go This Month?
SUI’s breakout above its multi-month consolidation range suggests bullish momentum may continue building in the coming weeks. Rising capital inflows and surging open interest further support the possibility of a larger expansion move.
If bulls successfully flip the $1.15 resistance zone into support, the SUI price could rally another 20% toward the $1.32 region this month. However, failure to sustain above the reclaimed breakout zone near $1.05 may weaken momentum and trigger renewed consolidation.