$SUI SUI/USDT Chart Analysis (6h timeframe)

Current Price: $2.1101

24h Change: -2.66%

24h High / Low: $2.1722 / $2.0821

Trend: Attempting recovery after a prior downtrend

Technical Indicators (summary):

Parabolic SAR: SAR dots recently flipped below the price, suggesting a shift toward short-term bullish momentum.

MACD: The histogram is slightly positive, and the MACD line has crossed above the signal line, indicating initial bullish momentum is developing.

MA5 & MA10: Price is near the convergence point of both moving averages. MA5 is beginning to curve upward, showing a potential trend reversal setup.

Volume: Volume has remained relatively stable with slight green dominance, showing moderate buyer interest but lacking breakout confirmation.

Price Action:

#SUI recently bounced from the local low of $2.0212, forming a minor higher low structure. The previous downtrend had been characterized by lower highs and consistent bearish candles. However, since hitting the low, the price has consolidated in a tight range between $2.08 and $2.17. There have been multiple wicks on both ends of recent candles, reflecting indecision and a battle between buyers and sellers. The most recent candle failed to break $2.12 cleanly but shows an effort to reclaim control above $2.10.

Outlook:

Bullish scenario: If bulls maintain price above $2.10 and break through $2.17 with volume, SUI could target $2.24 next. Confirmation from MACD expansion and sustained SAR support would strengthen the case.

Bearish scenario: Failure to hold above $2.08 would expose the asset to a drop back toward $2.02. A close below this level could reinitiate the bearish leg toward $1.98–$2.00.

Conclusion:

SUI/USDT shows early signs of stabilization after its recent correction. The MACD crossover and SAR shift offer cautious optimism. However, bulls need to reclaim $2.17 to confirm momentum. Until then, the pair remains vulnerable to renewed selling if $2.08 support is lost. Traders should watch for a breakout above $2.17 or a breakdown below $2.02 to gauge the next direction.