SUI Technical Analysis Feb 23

SUI is consolidating at the $0.89 level in a general downtrend structure, showing mixed momentum indicators with oversold signals on RSI and a bullish histogram on MACD. If the critical support at $0.8829 holds, a reaction buy is possible, but BTC’s downtrend continues to create pressure on altcoins.

Executive Summary

As of February 23, 2026, SUI is trading at $0.89 under downtrend dominance; it closed in the $0.86-$0.93 range with a 24-hour drop of %3.64 and volume at a moderate $324.87M. Supertrend gives a bearish signal while price remains below EMA20 ($1.01), but RSI at 32.84 is approaching the oversold zone and the MACD histogram has turned positive, signaling bullish divergence. Critical supports are $0.8829 and $0.7881, resistance at $0.9244; multi-timeframe analysis identified 11 strong levels. BTC downtrend ($65,757) increases risk due to altcoin correlation, bearish target $0.4518 although short-term reaction potential exists. Risk/reward ratio is unbalanced; wait for $0.8829 confirmation for long positions.

Market Structure and Trend Status

Current Trend Analysis

SUI’s overall trend direction is clearly assessed as downtrend; price action breaks the higher high/lower low structure by forming lower lows. The Supertrend indicator is in bearish mode and positions $1.12 as resistance, limiting short-term rises. Bearish continuation patterns are visible on the 1D timeframe, while movement continues within the downtrend channel on 3D and 1W charts. Price remaining below EMA20 ($1.01) reinforces short-term bearish bias, but there is no volume-supported breakout. In this structure, a close above $0.9244 and EMA20 crossover are mandatory for trend change.

Structural Levels

Structural levels were calculated based on Fibonacci retracement, pivot points, and volume profile: Main downtrend channel upper band $1.12 (Supertrend), lower band $0.78. Multi-timeframe analysis revealed 11 strong levels – 1D: 2 supports/3 resistances; 3D: 2S/1R; 1W: 2S/4R. These levels are strengthened by confluence, with price in mid-point consolidation at $0.89; breakout direction will determine the trend.

Technical Indicators Report

Momentum Indicators

RSI(14) at 32.84 is near the oversold zone (-30), showing divergence formation in the last 24 hours – price makes lower low while RSI makes higher low. This increases short-term reaction buy potential, but long bias remains weak without crossing above 50. No signal line crossover on MACD but histogram turned positive, giving bullish momentum signal; momentum increase expected if it holds above zero line. Stochastic %K %D crossover is bearish, but Williams %R at -85 confirms oversold. Overall momentum: Mixed, bullish divergence in bearish trend.

Trend Indicators

EMA stack bearish: Price below EMA20 ($1.01), EMA50 ($1.15), and EMA200 ($1.28); death cross (EMA20

Critical Support and Resistance Analysis

Support zones: $0.8829 (score 69/100, 1D pivot + Fib 61.8%), $0.7881 (66/100, 3D low + volume shelf). Lower support $0.72 (1W Fib). Resistance zones: $0.9244 (71/100, 1D high + EMA20 confluence), $1.4063 (64/100, 3D resistance), $1.5508 (60/100, 1W supply). These levels ranked by score; if $0.8829 breaks, cascade to $0.7881, if holds, tests $0.9244. Risk: Volume-less false breakouts, wait for confluence. Bullish target $1.2604 (score 30, Fib ext.), bearish $0.4518 (22, log scale projection).

Volume and Market Participation

24h volume at moderate $324.87M, volume increase during recent drop confirms bearish selling but no spike. OBV falling in line with downtrend, CMF negative (-0.15) shows capital outflow. POC (volume profile) at $0.92, price below POC is weak. Buy/sell volume ratio 0.42 (bearish), no whale accumulation. Volume supports trend continuation; $400M+ volume breakout required for upside.

Risk Assessment

Risk/reward: Long entry $0.89, SL $0.8829, TP $1.2604 -> R/R 1:3.5 (medium). Short $0.89, SL $0.9244, TP $0.4518 -> R/R 1:2.8. Main risks: BTC downtrend correlation (%0.85 corr), macro FUD, low liquidity whipsaw. Volatility ATR %5.2, limit position size to %1-2 risk. Balanced view: Oversold bounce possible but structurally bearish; $0.9244 breakout long trigger, $0.8829 break short.

Bitcoin Correlation

SUI correlates %0.85 with BTC; BTC at $65,757 in downtrend (24h -2.72%), Supertrend bearish. BTC supports $65,632/$64,054 critical – breakout triggers altcoin dump. If BTC resistance $65,914 fails, SUI dragged to $0.78. If BTC dominance rises (currently %52), altcoin rotation delays. Watch: BTC $68,225 breakout opens SUI $1.12, $60K drop accelerates SUI $0.45 bear target. Strategy: Filter SUI trades primarily by BTC bias.

Conclusion and Strategic Outlook

SUI technical chart dominated by downtrend but short-term reversal windows open with momentum divergence: RSI oversold + MACD hist positive, $0.8829 support test critical. Multi-TF confluence bearish, but long risky without volume confirmation. Strategic: Range trade ($0.88-$0.92), wait for $0.9244 + EMA20 breakout for long; short bias main view. If BTC stays below $65K aggressive short, above $66K reaction buy. For detailed spot analysis, check SUI Spot Analysis, for futures SUI Futures Analysis. Overall: Caution mode, minimize risk.