Key Insights:
- SUI faces resistance at $1.50–$1.80, with bulls waiting for a confirmed breakout.
- A short-term bounce may follow if SUI reclaims local lows after the liquidity grab.
- Targets include the 4H 200EMA and $1.80, with $5.35 on radar if momentum builds.
SUI was trading under a former support zone between $1.50 and $1.80, now acting as resistance. This area had previously supported price action before the recent breakdown. As of now, SUI was priced at $1.49, showing a 6.4% loss in the last 24 hours and a 7.7% drop over the past week.
The weekly chart shows the asset attempting to reclaim this level, though there is no clear sign of success yet. The projected move on the chart points to a possible rise toward $5.35 if the price breaks and holds above the zone. Until that happens, the range remains in focus.
Traders Waiting for Breakout Signal
Market participants are monitoring this area for a shift in structure. A confirmed move above the zone, followed by a retest and hold, could suggest a change in momentum. However, current conditions show that the price remains under resistance without confirmation.
According to a recent post from Bitcoinsensus,
SUI Eyes Breakout Zone, Is a Bull Run to $5.35 Coming? 3The post also mentioned that “a successful reclaim + retest could open the path to $5.35,” while noting the need for patience.
Source: Bitcoinsensus
No bullish follow-through has developed at this stage. Price is holding below resistance, and without a reclaim, the outlook remains neutral.
Short-Term Chart Shows Range Low Break
On the 4-hour chart, SUI dropped below a local range low, triggering a sharp sell-off. This move was marked as a possible “liquidity grab,” where stop losses are taken before a potential price recovery. The chart shows high volume during the drop, suggesting increased activity near the lows.
Analyst DaanCrypto noted, “SUI has just taken the local range lows,” and is now watching for a bounce if the price reclaims that area. The same post pointed out that SUI has been rejecting the 4-hour 200MA, currently around $1.589.
The short-term pattern remains unclear unless the price moves back above the broken level and the 200MA.
Resistance Levels Ahead
If the price manages to reclaim the short-term level and move past the 4-hour 200MA, the next areas to watch are the 200EMA near $1.696 and the $1.80 mark. These levels align with the broader resistance zone seen on the weekly chart.
The $5.35 target remains a key reference point, but current price action does not support that move yet. As long as SUI trades below the reclaim zone, the setup remains incomplete. Traders continue to monitor these levels for signs of strength or rejection.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/sui-eyes-breakout-zone/
