SUI Breakout Gains Momentum—Can the Price Surge Another 20% in May?
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 Bitcoins 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)