Sui (SUI), an emerging altcoin, is currently at a critical price point that could determine its near future. Trading around $3.88 at the time of publication after a 3.05% drop earlier, SUI is struggling with a significant resistance level at $4. This keeps the altcoin at a crossroads, with technical indicators and fundamental metrics painting an ambiguous picture.
Trader_XO signals caution, pointing to bearish technical signs for SUI
Well-known analyst Trader_XO remains cautious in the short term. He emphasizes that SUI faced a tough bounce at the resistance level of $4.24, dropping to $3.68. Bearish divergence on the RSI indicates that upward momentum is fading. If SUI fails to convincingly reclaim the $4 level, he expects a deeper correction. Key support levels to watch are $2.83 and $1.83.
Moreover, the price structure suggests short-term weakness. Trader_XO believes that if SUI does not close above $3.92–$4.00, the bearish trend may extend into Q2 and Q3.
Consequently, he entered a short position near recent highs, anticipating better long opportunities later. Despite this, he claims that a return to $4 could quickly change market sentiment and trigger broader strength in the altcoin.
Strong foundations of the SUI network provide an optimistic counterargument
On the other hand, analyst Michael Van de Poppe offers an optimistic forecast backed by strong network fundamentals. He notes that SUI recently formed higher highs, which is a sign of sustained macro structure strength.
Most importantly, SUI's TVL has grown to $2.06 billion, increasing by 70% over the past month. This near-historical high indicates strong investor confidence and ecosystem engagement.
Additionally, the network's growth is driven by the adoption of tokens like WAL and DEEP. WAL, in particular, has become one of the most efficient assets among the top 85 DePIN protocols. These developments significantly expand the SUI ecosystem.
Analyst Torero Romero, reinforcing the optimistic forecasts, reported that the total number of SUI accounts has now exceeded 190 million. This represents a growth of 35.24% in just 30 days. A greater number of users completing their first transactions indicates an acceleration in adoption, which could support future price rallies.
