SUI, a distinguished cryptocurrency, has been holding regular slightly below the $3 mark after breaking out of a downtrend that lasted a number of months. This breakout has led to a interval of consolidation, the place the value has stabilized and is now holding regular. The resistance degree at $3 has been a big barrier for SUI, because it has examined this zone a number of instances and not using a profitable breakout. Nonetheless, the chart signifies a possible for a bullish reversal, with the value displaying indicators of power regardless of being under the resistance degree.
SUI’s value actions have been carefully watched by merchants, who’re hoping that the cryptocurrency can lastly push by way of the important thing $3 degree. Based on Crypto Rand on X, if SUI can get above $3, it might set off a much bigger bullish reversal. The chart shared by Crypto Rand aligns with the present construction on the 3-day timeframe, suggesting {that a} breakout above $3 might result in additional positive factors.
SUI’s value journey has been marked by important fluctuations. In early August 2024, SUI started appreciating from under $1 and peaked at about $5.70 by early 2025. Nonetheless, the momentum weakened, and the value entered a constant downward slide, outlined by a descending channel. SUI lastly broke out of this downtrend in late April this 12 months. Since then, the value has been making an attempt to get well, discovering help round $2.60 and transferring between that degree and resistance slightly below $3.30. There was additionally a smaller drop from $3.70 all the way down to $2.50, however SUI value broke out of that construction too. Each time it has moved out of a descending channel, short-term positive factors have adopted, and merchants are hoping the identical occurs once more.
Key ranges to look at on the SUI chart embody help round $2.60, which has held effectively up to now. There’s additionally a extra strong degree at $2.20 if the value dips decrease once more. Below that, $1.90 and the outdated base round $1.00 nonetheless stand as long-term help zones. Resistance is clearly sitting between $3.00 and $3.30. That’s the zone that should flip into help if this transfer goes to proceed. If SUI value can shut above that vary, the following targets may very well be $3.70 and $4.30. The all-time excessive from earlier this 12 months at $5.70 would come into play if the uptrend actually picks up steam.
SUI’s latest value actions have proven a bullish setup, because it broke out of a falling wedge sample, a setup that often leans bullish. The amount and value construction each counsel that consumers are stepping in once more. Nonetheless, even with momentum turning, it nonetheless hasn’t confirmed a full reversal. The $3 zone is the road within the sand proper now. If SUI can get by way of it with conviction, the restoration may need legs. But when it fails once more, we might see one other check of the $2.50 and even $2.20 vary. For now, the market is ready to see what comes subsequent.
