We consider a mathematical model for the study of the dynamical behavior of suspension bridges. We show that internal resonances, which depend on the bridge structure only, are the origin of torsional instability. We obtain both theoretical and numerical estimates of the thresholds of instability. Our method is based on a finite dimensional projection of the phase space which reduces the stability analysis of the model to the stability of suitable Hill equations. This gives an answer to a long-standing question about the origin of torsional instability in suspension bridge