$SUI Token Holding at $2.92, Consolidation Before Continuation or Correction?

The SUI token is currently trading in the range of $2.92, up about +2% in the last 24 hours, after briefly touching a daily low of $2.83 and a high of $2.93. The price movement indicates a light consolidation phase following the previous weekly correction.

📊 Latest Market Data

Current Price: $2.92

Market Cap: Approximately $10 billion

Circulating Supply: ±3.45 billion tokens out of a maximum total of 10 billion

24-Hour Volume: ±$600 million

Blockchain: Sui Network (based on the Move programming language)

🔍 Technical Analysis (Timeframe 1H / 1 hour)

Price is moving within a narrow range of $2.88–$2.93, with strong local support at $2.83. If it can break through the psychological resistance of $3.00, there is potential for an upward movement towards $3.10–$3.20. However, if it fails to hold above $2.85, a correction to $2.75 or lower is likely.

Currently, the short-term MA is starting to flatten, indicating that the market is waiting for the next direction. Volume remains stable, but has not yet shown significant buying pressure.

🧠 Brief Fundamentals

SUI is known as a blockchain network with high speed and a unique parallel architecture. Designed to support large-scale applications such as games, dynamic NFTs, and DeFi. The SUI token is used for transaction fees, staking, and voting in network governance.

🎯 Projections & Strategies

If Breakout at $3.00: Nearest target $3.10 – $3.20

If Breakdown at $2.83: Watch for a correction to $2.70

Current Position: Potential entry in the discount zone, suitable for traders waiting for a technical bounce

✍️ Conclusion

SUI is at the crossroads between recovery and further correction. Technically, the price is stable at support, but it needs volume push to break through resistance. For now, the $2.85–$2.90 zone could serve as a short accumulation area while waiting for confirmation of the next breakout direction. DYOR