Will Bulls Push It Toward $1.20?

By Sadia Ali | Edited By Messam Raza,May 21, 2026, 7:00 AM

SUI price is stabilizing near key support after a sharp decline, showing easing selling pressure and early consolidation. A recovery toward higher resistance levels is possible if demand strengthens, but momentum remains weak. Technical signals and reduced trading activity suggest a cautious, range-bound market for now.

At the time of writing, SUI is trading at $1.07 with a 24-hour trading volume of $460.44 million and a market capitalization of $4.3 billion. Despite the signs of stability over the last 24 hours, everyone’s focus is on whether the token maintains a bullish breakout or leads to deeper retracements if support fails.

Source: CoinMarketCap

SUI Price Stabilizes at $1.04 Support: Is $1.20 Next?

Furthermore, the crypto analyst BitGuru pointed out that the SUI price is showing early signs of stabilization after a sharp corrective move, as price action continues to hold above the key $1.04 support zone. 

Selling pressure is easing, while buyers are gradually stepping in to absorb supply, indicating potential short-term exhaustion of downside momentum and a possible shift toward consolidation.

Source: BitGuru’s X Post

If this continues to hold, the SUI price can take its shot at coming back to the $1.15-$1.20 levels from which the resistance emerged in the first place. 

However, for the SUI price to continue on this path, it would require a consistent demand, strong volumes, and more confirmation via higher lows. Otherwise, it might continue trading in ranges.

Also Read: SUI Price Nears Critical Support, Eyes Possible Rally Toward $1.42

Technical Indicators Point to a Consolidation Phase

According to TradingView, the SUI price experienced explosive momentum in an aggressive advance, with a top price of $1.4000 before settling back down to $1.0200. 

Recently, the SUI price has been exhibiting a very controlled consolidation phase. In addition, the Bollinger Bands have collapsed near the 20-period moving average, indicating extreme volatility compression, and thus, a breakout is imminent.

Source: TradingView

MACD shows a sudden shift in the momentum of the market. With the previous parabolic move resulting in strong green bars, they quickly became deep red as the market crashed. 

At present, the lines have leveled off at the zero level, even as there is a new bullish crossover but without any surge in volume buying.

SUI Derivative Data Reveals a Cautious Outlook

However, the open interest of SUI stays consistent at $702.12 million. This indicates the traders’ consistent position in derivatives and that there has been no significant increase or withdrawal. There have been some fluctuations in trading behavior, but sentiment remains uncertain.

Source: Coinglass

The trading volume has fallen to 37.85% and stands at $714.57 million. The fall is indicative of fewer players and lower momentum in the short term, indicating declining interest on the part of the traders.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: SUI Price Eyes $1.50 as Ramp Integration Boosts Bullish Momentum