Technical indicators show strong momentum after reclaiming key support levels
Sui (SUI) rallied 6% in the last 24 hours, pushing its price to $3.93, as bullish momentum returned to the altcoin. The token is now approaching a major resistance zone near $4.20–$4.30, where sellers have previously capped upside attempts.
The daily chart highlights a clear breakout from a descending channel earlier this year, which shifted momentum back in favor of buyers. Since then, SUI has been trading within defined support and resistance zones. The most recent bounce came from the $3.20 support level, with strong buying interest evident from higher volumes.
BITX market analyst explained, “SUI’s price action is constructive. The ability to hold above $3.20 and push higher confirms that bulls are in control. The next challenge is overcoming the $4.20–$4.30 resistance band, which has rejected price several times in recent months.”
Volume data shows renewed activity around the current rally, suggesting that the move is supported by real demand rather than speculative spikes. If momentum continues, a decisive breakout above $4.30 could pave the way for a push toward the $4.70–$5.00 range.
According to BITX, “What’s different this time is the sustained accumulation around key supports. As long as SUI stays above $3.50 on pullbacks, the bullish case remains intact.”
For now, $3.20 acts as critical support, followed by deeper zones at $2.70 and $2.00 if bearish pressure reemerges. On the upside, the immediate hurdle is the $4.20–$4.30 resistance range. A breakout there could signal the start of a broader uptrend.
With SUI showing resilience amid broader market uncertainty, traders are closely watching whether this rally can sustain above $4 and confirm a shift into a new bullish phase.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.