SUI is approaching a critical technical inflection point that could define its March trajectory.
The asset’s recent decline indicates an increasing likelihood of volatility expansion as noted through compression patterns forming near support levels. At press time, the coin is trading at $0.8686 with a decline of 1.2% over the past 24 hours.
SUI Tests Demand Zone While Reversal Setup Builds
SUI price is currently trading close to $0.86 after an extended corrective movement on the chart from TradingView; however, it has been forming consistently lower highs due to continued selling pressure throughout that time frame.
The structure of the coin remains bearish on the daily chart; however, buyers continue to accumulate within the $0.80 to $0.86 range, where demand has previously developed.
With that said, this price will be significant in the short term to determine the direction of future movements. The immediate resistance level is found at $0.96, where a lower high is forming for the coin.
Therefore, if we have a decisive daily close above this level, we will have an improved structure with a bullish momentum shift.
If buyers regain control at $0.96 with increasing volume, the next upward target for March is $1.20; this target coincides with its prior breakdown, therefore, it could be viewed as a recovery level rather than a breakout target.
Additionally, the RSI lies near oversold levels, indicating recent declines have been losing momentum; however, confirmation of strengthening momentum requires SUI to form a higher high on the daily chart.
If it fails to maintain the support level of $0.80, we could see a liquidity sweep toward the $0.70 range before the price stabilizes again.
Also Read: Sui (SUI) Price Eyes a Rally Toward $1.16 as VanEck ETN Boosts Liquidity
Institutional Access Strengthens Bullish Narrative
Sui recently posted on X, stating that as of today, TSUI, the US spot ETF associated with Sui and filed by 21Shares, has been approved by the SEC, has gone live on Nasdaq, and provides public access (through a regulated exchange) to the coin.
Thus, this development creates both a structural catalyst for ongoing capital inflows to the coin’s ecosystem. In terms of price action, if the price can reclaim the monthly resistance zone of $0.96, it is expected that the ETF narrative supports bullish momentum towards the March target of $1.20.
Overall, price confirmation is required; however, the institutional gateway has increased the confidence level for the medium-term recovery of the coin.
In conclusion, heading into March, Sui sits at a pivotal technical position; if the price were to decisively reclaim the $0.96 level, this would provide a bullish case to extend upward towards $1.20, particularly with the existence of the ETF catalyst.
Conversely, if the price holds below $0.80, there is a substantial chance that recovery will be postponed and the next technical level of support will decline to $0.70 before finding stabilization.
Also Read: SUI Rockets to $0.96 as U.S. Spot ETFs Target $1.03 Breakout
