SUI Soars 5% but Retreats as Crypto Markets Experience Turbulence

SUI Token Breaks Resistance Amid Increased Trading Activity, Later Retraces Gains

The native token of the layer-1 blockchain platform, SUI, showed a strong breakout on Tuesday, climbing from $3.27 to $3.39 amid rising trading volumes and bullish investor sentiment. However, the token later gave back some of its gains, trading near $3.30 by the time of writing.

Geopolitical tensions and ongoing trade disputes between major global economies continue to cast uncertainty over the crypto markets, and SUI’s price movement reflects this broader market unease. After consolidating around the $3.31 level, the token has formed higher lows that signal a potential bullish trend despite minor pullbacks.

SUI successfully breached previous resistance at $3.29-$3.30, which has now turned into a strong support zone. Meanwhile, the Sui Network’s focus on scalability solutions and Web3 integration continues to attract investor interest, bolstering the token’s fundamentals in a competitive blockchain environment.

Technical Overview

The token exhibited a 5.2% volatility range over 24 hours, equating to $0.17.
Significant resistance was broken at $3.37-$3.39, supported by a trading volume spike of 14.6 million tokens.
Support levels have formed between $3.29 and $3.30, reversing prior resistance.
Price action suggests the completion of an accumulation phase with a pattern of higher lows indicating bullish momentum.
During U.S. morning trading hours, SUI retraced some gains, settling near $3.30.