Market structure shows early signs of stabilization, but major resistance zones still cap upside potential
SUI climbed roughly 4% in the latest daily session, rebounding from a critical support zone after several weeks of sharp decline. The chart you provided shows the price hovering near $1.55, with buyers attempting to reclaim short-term momentum after a prolonged downtrend. This rebound comes as the asset tests a historically significant demand region, hinting that sellers may be losing strength.
SUI Market Outlook Strengthens Near Support
SUI is reacting precisely from the large $1.40–$1.55 demand block, a level that has previously triggered major recoveries. The bounce has created what technical traders view as an early change of character, often signaling the beginning of a structural shift.
BitXJournal Analysts note that reclaiming this zone is crucial. One market strategist explained that “holding above this support is essential for any sustained recovery, as it represents the final stronghold before price enters multi-month lows.”
The broader trend shows a long decline from the $4.50–$5.00 major supply area, where repeated rejections confirmed significant seller presence. The current rebound remains modest, but the technical picture suggests room for a larger corrective move if momentum continues.
Key Technical Levels to Watch
- Immediate Resistance:
The first major hurdle sits near $1.75, followed by a stronger barrier at $2.00–$2.20, where past break-of-structure (BOS) levels formed.
Analysts emphasize that “a daily close above $1.75 would strengthen the bullish case and open the path toward $2+ targets.” - Critical Support:
The $1.40–$1.50 region remains the most important short-term floor.
As another expert noted, “losing this level would expose the weak low below $1.00, which remains an untested liquidity zone.” - Trend Structure:
The descending channel that dominated Q1–Q3 appears to have weakened, and the recent break indicates the potential formation of a new accumulation range.
SUI’s 4% surge reflects a market attempting to stabilize after months of downward pressure. While buyers have defended a vital support zone, major resistance levels overhead ensure that caution remains necessary. If SUI can secure a strong close above its first resistance layer, a broader recovery phase may finally begin.
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.