Price remains stable above a key horizontal level, forming higher lows and signaling a potential base for recovery.
Breakout confirmation above $3.08 could trigger a bullish structure with staged resistance aligned with April’s high-volume zones.
Despite neutral momentum on RSI, increasing volume and expanding MACD histogram suggest accumulation and rising buying pressure.
SUI’s recent price action shows a tight consolidation above its key support level at $2.93. The asset is trading at $2.92 following a 3.7% 24-hour decline. A broader technical outlook indicates a potential recovery zone, with projected resistance at $3.08.
The chart setup suggests a pre-breakout structure that could define SUI’s near-term trajectory. As price compression continues, market participants are closely watching its reaction to this range.
SUI Maintains Support at $2.93 Amid Repeated Retests
As of the latest session, SUI holds marginally above its support at $2.93. This area, highlighted in yellow on the 4-hour chart, has been tested multiple times since late June. Each retest produced a bounce, reinforcing the significance of this horizontal level. Notably, price remains above the recent low and shows early signs of higher lows forming. If this structure holds, it may serve as the base for the next leg upward.
SUI Eyes $3.08 Breakout with Fibonacci Targets in Sight
Currently, resistance lies at $3.08. This level acted as rejection earlier in the month and aligns with the upper boundary of the projected range. A breakout above $3.08 could validate the formation of a bullish reversal pattern. Additionally, price targets above $3.88 and $4.56 are visually marked on the chart. These projections represent Fibonacci-based zones that align with prior high-volume zones observed in late April.
Source: (X)
The broader 4-hour chart structure suggests an impulsive price route once the consolidation breaks. A mapped trajectory shows a staged recovery through $3.88, with a continuation zone near $4.56. The stop-loss box area appears around $2.02, offering a reference for invalidation in case of trend failure. Volume trends remain low but stable, further reinforcing the coiling structure seen in early July. Market watchers are tracking whether momentum builds above the marked trigger line.
SUI Technical Indicators Show Neutral Momentum
Sui Relative Strength Index is currently trading at 53.84 showing that it is in a neutral position with neither overbought or oversold momentum.
Source: TradingView
The Moving Average Convergence Divergence line is trading above the signal line indicating negative momentum. Additionally, the positive and expanding histogram suggests growing momentum. Notably, today’s volume surpassed the daily average, hinting at increased buying interest and possibly larger accumulation trends.
