- SUI is showing early signs of a trend reversal, gaining strength after a sharp retracement and now forming a solid base above a key support level.
- The token is nearing a critical resistance zone, which previously halted upward momentum; a successful breakout here could mark the start of a new bullish phase.
- Rising trading volume and improving market sentiment suggest renewed interest from both retail and institutional investors, indicating growing confidence in SUI’s potential.
SUI is showing a potential trend reversal after a deep retracement from its previous highs. Currently, the price is holding above a major support zone and trying to approach its resistance level. Traders and investors are closely watching SUI for a potential breakout to get profit from this journey.
At the time of writing, SUI is trading at $3.69 with a 24-hour trading volume of $1.55B and a market cap of $12.29B. The SUI price over the last 24 hours is up by 8.32%, and over the last week it is up by 12.69% and showing signals for a fresh breakout.
Source: CoinMarketCap
SUI Price Faces Key Test at $4.00 Resistance Level
According to the crypto analyst, the native token of the SUI blockchain, SUI, is now of keen interest to observers and traders in the market as it gets close to a crucial level of resistance of approximately between $3.80 and $4.00. The level was of historical significance earlier as it previously stopped the upward move of the asset in its last major rally.
SUI was strongly rejected in this price range, triggering a small but notable pullback that created some hesitation among short-term speculators. Today, with market sentiments improving and speculative interests returning, the token is making its way to this level again, potentially making it a stronger base.
Opposing last week’s test, recent price action indicates renewed resilience and strength in the coin, with a consistent upward grind fueled by higher trade volumes and positive sentiment in the overall altcoin market. Although higher highs in recent consolidation trends signal increasing confidence of buyers.
Market observers now look to the $4.00 level as a critical level of breakout, possible to decide whether this coin begins with a bullish cycle or continues to fall prey to rejection.
Source: X
A specific close above said technical and psychological level, hopefully backed by heavy volume, would translate to an influx of breakout investment and set a new all-time high (ATH) well in range. Failure to break above, by contrast, would spell further congestion or downward pressure.
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