What to know:
- SUI is trading at $0.9325, up 2.72%, with an overall daily trading volume of $486.46M and a $3.69B market capitalization.
- Token broke above consolidation, retracing back towards $0.90 to retest support before setting sights on the $1.05 liquidity zone.
- SUI looks indecisive; RSI is falling, but support at $0.8265 holds, near the 100-period moving average.
SUI is showing renewed momentum after a 2.72% daily gain, as the market reacts to a recent breakout attempt from its consolidation phase. The token is now testing the key support at $0.90 to determine whether the recent break above a consolidation is real or just temporary. There have been high volumes in the past few days.
Currently, SUI is trading at $0.9325, up 2.72% over the last 24 hours. Its total volume recorded over the last 24 hours was $486.46 million, while its current market capitalization stands at $3.69 billion. It gives the token a market dominance of 0.15%. The recent price action of SUI suggests increased market interest after some consolidation.
Also Read | XRP Slips During Key Retest Phase as Sellers Block Break Above Resistance
SUI Eyes Liquidity Above $1.05 Target
According to the data shared by the crypto analysts from Sui Insiders, the token made a breakout above consolidation at $0.90, before reversing and pushing up further. After this breakout, the price is now revisiting the same level, which is being closely watched as a possible support zone. If $0.90 holds, the upward structure may continue, with the next liquidity area seen above $1.05.
On the hourly chart, SUI looks like it is trading within a downward-sloping channel. Currently, SUI is nearing the bottom border of this channel, where some recovery formations are being made. An expectation of a test of this border level is coming.
Upside Targets Range $0.8724–$0.9146
Technical signals show mixed conditions. The Relative Strength Index (RSI) is still pointing downward, which suggests ongoing pressure in the short term after earlier overbought conditions. In addition, support has been holding at $0.8265 multiple times in recent sessions, which makes it increasingly important for this level.
At the same time, price action seems to be getting closer to the 100-period moving average. Market structure reveals that there could be some levels of recovery if the buying continues. For instance, immediate targets are $0.8724, $0.8890, and $0.9146, with the broader resistance staying at the top of the descending channel.
Overall, SUI is at a critical technical stage where the $0.90 level may decide whether the recent breakout attempt develops into a sustained recovery or fades into continued range movement.
Also Read | Bithumb Purses Legal Battle After Massive $700,000 Overpayment Error
Be the first to comment