SUI nears a crucial resistance level as intuitional momentum continues to grow and the network scores major partnerships. Some analysts suggest that the altcoin could see a breakout to new highs if the current levels hold. Related Reading: Bitcoin Set Up For ‘Promising’ Q4, Next Two Weeks Could Be Decisive SUI $4 Retest In Sight On Thursday, SUI surged 4.2% from its daily opening to reclaim the $3.90 area for the first time in a month. The cryptocurrency has been hovering within the $2.50.00-$4.00 price range after the May breakout, hitting a multi-month high of $4.44 in late July. Since then, the altcoin has failed to reclaim the range’s upper boundary, being rejected twice from this key zone in the past two months. Now, its recent rally has propelled its price back to the range highs, nearing the $4.00 resistance once again. Analyst Sjuul from AltCryptoGems asserted that SUI’s low-timeframe structure “is super bullish,” highlighting the recent higher highs (HH). Following its recent breakout from a two-month falling wedge pattern, Sjuul affirmed that the altcoin also confirmed the high-timeframe bullish structure. The market watcher previously suggested that the cryptocurrency could be repeating a similar price action to its early Q3 breakout. Per the post, in Q2, SUI printed a new HH, followed by a correction within a falling wedge formation. Then, the cryptocurrency bounced from the local support and demand area, forming a lower high before rallying to a new HH at the start of Q3. Now, he considers that the price seems “ready to move higher” and that the next leg up could target SUI’s all-time high (ATH) levels. Similarly, Rekt Capital signaled that a successful breakout from the $3.80 would set the stage to revisit the $5.35 ATH. Notably, the current levels coincide with the resistance level of the cryptocurrency’s multi-month downtrend channel. Nonetheless, market watcher CW highlighted that SUI’s current sell wall extends from $3.85 to $4.00, suggesting that the price must hold this crucial area, or it will risk another rejection. What’s Behind The Momentum? SUI’s rally appears to be fueled by institutional interest, Digital Asset Treasuries (DATs), and positive developments for the network. This week, the Sui Network became one of the launch partners for Google’s Agentic Payments Protocol (AP2). The tech giant’s new standard for AI-driven payments allows AI agents to execute transactions on behalf of users. Moreover, Tuttle Capital joined the Exchange-Traded Fund (ETF) buzz and recently filed for a SUI Income Blast ETF to “seek current income” and “exposure to the share price of the daily performance of SUI.” It’s worth noting that at the start of the month, the Securities and Exchange Commission (SEC) delayed the final decision on the 21Shares SUI ETF to December 21, 2025. However, many expect that the investment product could be approved as early as October, alongside multiple other crypto-based ETFs that have been delayed for early Q4. Related Reading: BNB Chain Projects Lead Binance Wallet With 2,000x IDO Returns The current DAT strategy trend, which has seen corporations pour billions into cryptocurrencies as treasury reserve assets, has also contributed to SUI’s momentum. At the start of the month, Nasdaq-listed SUI Group Holdings announced it had total holdings of approximately 102 million tokens, worth around $403 million at current prices. The company also authorized a new $50 million stock repurchase program earlier this week. As of this writing, SUI is trading at $3.95, a 10% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
