The SUI price shows early recovery after a prolonged downtrend, with buyers re-entering a key accumulation zone. Momentum is improving but remains below major resistance, so bearish pressure is still present. A potential short-term bullish phase may develop if buying strength continues, alongside new privacy-focused network upgrades.
At the time of writing, SUI is trading at $0.7498 with a 24-hour trading volume of $438.87 million and a market capitalization of $6.03 billion. Despite the 1.06% loss over the last 24 hours, the SUI price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketcap
SUI Price Rebound Signals Early Bullish Recovery
According to the crypto analyst BitGuru, the SUI price has begun to show signs of early recovery following a long period of being stuck in a downward trend, which exerted pressure on the asset’s price for several weeks now.
The SUI price has staged a recovery coming out of an important accumulation level, where historically buying pressure takes hold of selling pressure.
Source: BitGuru’s X Post
With this report of the rally continuing, the SUI price might have entered a bullish state that is likely to see further upside in the coming period.
As far as the SUI price movement is concerned, there could be a possibility of testing the $0.84 resistance level as a result of continued buying. A trend reversal would need to be confirmed with higher volumes and higher highs.
SUI Price Faces Pressure Below Key Moving Averages
According to TradingView, the SUI price has been on an obvious and aggressive downtrend, which is now at a local bottom with only a slight recovery thereafter.
The SUI price had dropped dramatically from well over $1.10000 to an important low of $0.66500 by June 5th. SUI is now trading up to $0.74984 but has not exceeded the bears’ 20, 50, 100, and 200 EMAs yet.
Source: TradingView
The RSI is an absolute illustration of how the momentum in the market is changing. It is regaining strength after falling into the oversold area far below 30 when there was a significant fall.
Currently, the RSI stands at 48.74, which is slightly below its signal line of 48.75. This shows that selling activity is now on hold by the bulls.
Sui Launches Confidential Transfers in Devnet Public Beta
The data from MSB Intel further highlighted that Sui has introduced the new feature called “Confidential Transfers” on Devnet. This update will make it possible for the users to hide their balances and amounts involved in transactions without making changes to their addresses and metadata.
This development is a significant milestone in implementing privacy-oriented transactions on the blockchain by the organization.
Source: MSB Intel’s X Post
The protocol has been built with compliance in mind, allowing users to have selective control over the privacy settings and ensure that their data is made available for regulatory purposes where required.
With the help of end-to-end encryption of financial data along with an audit trail of the network, Sui emerges as a highly privacy-focused but also compliance-friendly blockchain.
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 Forecast: Market Cap Model Suggests Long-Term Upside Toward $71 Billion
