SUI Price Action: Support Holds Near $2.60 Amid Institutional Interest
SUI token recently rebounded from a critical support level of $2.58, signaling renewed investor confidence. After dropping from an intraday high of $2.70, the price formed a temporary bottom at $2.58, supported by an 18% increase in trading volume during the recovery phase.
As of the latest session, SUI trades at $2.6481, marking a 2.03% decline over the past 24 hours but showing a steady rebound pattern. The asset fluctuated between $2.58 and $2.66, with repeated resistance near $2.66, confirmed by multiple price rejections during peak trading hours.
Lion Group Announces Strategic SUI Purchase Plans
A major catalyst for this rebound was a June 26 announcement by Lion Group Holding Ltd., a Nasdaq-listed firm, revealing plans to purchase SUI and SOL tokens as part of its $600 million crypto treasury strategy.
The company recently completed a $2 million HYPE token acquisition and plans to allocate at least 75% of net proceeds from its convertible debenture facility toward acquiring high-potential crypto assets, including SUI.
Key Highlights:
- Lion Group views SUI as part of a long-term strategic reserve.
- The firm aims to support layer-1 blockchain ecosystems through treasury diversification.
- Future updates are expected on token acquisition timelines and allocation volumes.
Technical Signals: Momentum Shifts With Higher Lows and Volume Spike
From a technical perspective, SUI formed a sequence of higher lows between 01:00 and 08:00 UTC on June 27, indicating a gradual bullish shift in momentum. A minor bullish reversal occurred from 07:51 to 08:24 UTC, pushing the token from $2.61 to $2.63, a 0.9% gain within minutes.
The recovery was supported by increased accumulation, as seen by volume surging above the 24-hour average. However, resistance remains firm around $2.66, where price rejection was observed between 09:00–11:00 UTC.
Outlook: Bullish Sentiment Builds, Resistance in Focus
With institutional players like Lion Group entering the market and on-chain signals suggesting strong buying pressure near $2.60, short-term sentiment around SUI is improving. Traders are watching for a break above the $2.66 resistance, which could open the path to test higher levels.
However, analysts caution that volatility remains elevated, and a clear move above key resistance is needed to confirm a sustainable uptrend.
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.