The price of SUI ($1.45) has rebounded from lows triggered by the Cetus exploit with a bullish wedge breakout. Can rising TVL help it reclaim $4? Following the recent Cetus attack, SUI is showing gradual recovery in network growth and market prices. With a falling wedge breakout rally, SUI aims to surpass the critical $3.45 resistance to reclaim the $4 mark. Will the broader network recovery drive increased demand for the altcoin? SUI Price Analysis In the 4-hour price chart, SUI displays a falling wedge pattern formed during the pullback caused by the Cetus attack. However, a V-shaped recovery has reclaimed the $3 mark and surpassed the short-term resistance trendline. 

SUI Price Chart

Currently, SUI is challenging the 23.6% Fibonacci resistance level at $3.45. Struggling to break through this resistance ceiling, SUI has experienced an intraday pullback of less than 2%. Nevertheless, the broader bullish trend has regained momentum, as indicated by the supertrend indicator. The ADX line, at 25 points, reflects increased trend momentum. Thus, technical indicators maintain a bullish outlook for SUI, anticipating a potential breakout above the $3.45 resistance level. Based on Fibonacci levels, a bullish close above $3.45 could propel SUI toward the $4 psychological level. Additionally, the $4.29 level represents a key resistance target. Conversely, the weekly low near $3.22 serves as a critical support level, followed by the $3 psychological mark. The 50% Fibonacci level at $2.71 acts as the final line of defense before a potential pullback to $2. Analysts Show Strong Confidence in SUI Supporting SUI’s bullish prospects, multiple crypto analysts have expressed confidence. Michael van de Poppe recently tweeted that SUI is a core pillar in the upcoming bull cycle. The analyst highlighted key metrics: SUI ranks as the eighth-highest total value locked (TVL) protocol across chains, and SUI LEND has become one of the largest lending protocols, surging 90% over the past month. SUI LEND’s TVL has surpassed $700 million. Notably, 10% of SUI’s total TVL comes from Bitcoin-related assets, and multiple institutions, including Grayscale, have filed for SUI ETFs. These factors signal strong confidence from institutions and large investors. Additionally, CryptoKaleo compares SUI to Solana, noting that many investors declared Solana “dead” during the previous bearish cycle. The analyst views every FUD event as a buying opportunity, as these altcoins often rebound strongly. Despite the recent Cetus attack, the protocol is officially operational again, and there is a robust recovery plan following recent voting. A compensation plan is in place for affected users. CryptoKaleo also highlights a triangle pattern in the SUI price chart, signaling the potential for an upside breakout.  https://twitter.com/CryptoKaleo/status/1932208003077271639/