SUI Targets $7 as Market Awaits Breakout Above Key Levels

• Global crypto market cap dipped 0.38% to $3.81 trillion, with Bitcoin and Ethereum steady.
• Nasdaq-listed SUI Group purchased 20M more tokens, boosting its holdings to over 101M SUI worth $344M.
• Ali Martinez sees a move toward $7 for SUI, while Ran suggests a cycle peak between $16 and $20.

The crypto market showed mixed signals in the past 24 hours, with the total market cap edging up to $3.81 trillion, a 0.38% decline. Bitcoin and Ethereum held steady with small increases, while altcoins delivered a mixed performance. 

While the majority of the top 20 altcoins trade in red, SUI has gained more than 2% and is trading at $3.37. The bullish sentiment around SUI grew stronger after Nasdaq-listed SUI Group revealed it had bought another 20 million tokens, pushing its total holdings to over 101 million SUI worth about $344 million. The company said it now holds more than $300 million in SUI, along with around $58 million in cash for future acquisitions.

SUI Price Analysis, Targets and More:

Is $7 Possible?

Crypto analyst Ali Martinez thinks SUI looks like a good buy right now, saying it could be gearing up for a move toward $7.

Analyst Ran has also been openly bullish on SUI, saying the token could be setting up for a big move this cycle. In his model, he sees the price reaching somewhere between $16 and $20 before the cycle ends. From today’s levels, that would mean a potential 5x to 6x gain. He explained that this view comes not just from charts, but also from what he calls SUI’s growing “share of attention.”

Resistance and Support Levels To Watch

While Martinez’s $7 target is more of a long-term call, the near-term story for SUI is all about key levels. Right now, the token is holding steady in its support zone between $2.64 and $3.17, a range that buyers have defended well. 

On the upside, $4.30 is the level to beat, since the price has already tested it twice without success. On the downside, slipping below $2.65 would be an early warning sign, with a deeper breakdown likely if SUI falls under the June low of $2.30.

For now, the market is still in a correction, and trading volumes have dropped off. That can sometimes be a clue that a bigger move is building. If SUI can clear $3.53, it would hint that a local bottom is forming. A stronger signal would come with a break above $3.87. Until then, SUI is stuck in consolidation, waiting for its next big move.

Related: SUI Group’s $344 Million Token Stash: Will It Lift SUI Beyond $3.41?