SUI Poised for Major Breakout Beyond $3.5 Resistance

The analyst suggests that Sui (SUI) is approaching a significant breakout point, with a potential to challenge the $3.5 resistance level. Despite a month-long decline of approximately 17.18%, recent technical patterns, notably a bullish descending wedge, indicate a possible reversal. The formation of this pattern, combined with a rebound from lows around $2.8-$3.0, signals market momentum that might lead to an upward move. If SUI successfully closes above $3.5 on a daily basis, it could spark substantial buying activity, pushing prices toward $4.00 initially, and potentially up to $5.21, signaling a 60.8% upside from current levels. Current market conditions show a slight gain of 2.33% in the last day, but overall weekly and monthly figures remain negative, with losses of 1.01% and 17.10%, respectively. Nevertheless, SUI's remarkable 211.11% increase over the past year positions it as a strong contender in the ongoing altcoin season.