Sui Price Action: Breaking Out of Three-Month Range Requires $1.08 Daily Close

The recent rally in Bitcoin has provided a boost to altcoins, with many registering modest gains in the past 24 hours.

Sui (SUI) is among the altcoins that have seen significant price action, posting double-digit percentage gains in recent days. The altcoin's momentum was further fueled by the Sui Live event in Miami and the announcement of Sui futures being available for trading on the CME Group platform.

From a technical standpoint, SUI is set to break out of a three-month range, with the $1.05 level serving as a resistance that bulls have struggled to reclaim as support. A daily session close above $1.08 would be required to flip the structure bullishly and confirm an uptrend.

While the OBV did not set remarkable new highs, the RSI reflected sustained upward momentum in recent days. This suggests that SUI bulls have a chance to keep the uptrend going, but it's essential to respect the range formation until the extremes are breached.