SUI Technical Analysis Jan 23

SUI’s current price is at the $1.50 level, positioned below EMA20 ($1.64) in a short-term downtrend. The critical support at $1.4676 should be tested first; a break could trigger liquidity hunting.

Current Price Position and Critical Levels

SUI is consolidating at the $1.50 level while exhibiting a bearish structure in the overall market setup. The 24-hour change shows a limited loss of -1.35%, but RSI at 38.71 is approaching the oversold region. With price remaining below EMA20 ($1.64), short-term momentum belongs to sellers. The Supertrend indicator is giving a bearish signal and pointing to the $1.81 resistance. In multi-timeframe (MTF) analysis, a total of 13 strong levels were identified across 1D, 3D, and 1W charts: 2 supports/3 resistances on 1D, 2 supports on 3D, and 3 supports/4 resistances confluences on 1W. This suggests the price may be seeking liquidity toward the $1.4676 support zone. Daily volume is at a moderate $264.19M, but increasing volume in the downtrend could strengthen breakouts. Historically, SUI has tested order blocks and supply/demand zones multiple times at these levels, with strong rejections.

Support Levels: Buyer Zones

Primary Support

$1.4676 (Strength Score: 74/100) – This level stands out as the most critical buyer zone. Why? The order block from the last downward wave on the 1D chart formed here, and the price has experienced rejections with volume spikes multiple times when approaching this zone ($1.48-$1.47 range). It also shows confluence with EMA50 on the 3D timeframe, with 4 historical tests (3 rejections, 1 minor break). From a liquidity perspective, it’s an ideal pool for stop-loss hunting: liquidity below could come from the $1.46 lows. If this level holds, a short-term reversal signal could emerge; if broken, acceleration toward $1.30 levels is likely. MTF confirmation is high, overlapping with a demand zone on 1W.

Secondary Support and Stop Levels

$1.3039 (Strength Score: 62/100) – Secondary support, important for a deeper correction. This zone is a strong demand block remaining from the November 2025 lows; aligned with Fibonacci 0.618 retracement on 1D, forming a high-volume node (HVN) in the volume profile. Tested twice on the 3D chart, rejected with wicks each time. Invalidation level below $1.28 – if broken, downtrend acceleration is expected, activating the $0.9126 downside target (R/R ratio 1:2.5). Use below $1.4676 for stop-loss, risk management is essential.

Resistance Levels: Seller Zones

Near-Term Resistances

$1.5355 (Strength Score: 64/100) – Near-term first obstacle, above the current range ($1.54). Recent consolidation high on 1D and near EMA20, a supply zone where short-sellers gathered liquidity. Historical 5 tests (4 rejections), bearish volume divergence. Break requires close above $1.54, otherwise high fakeout risk.

Main Resistance and Targets

$1.6425 (Strength Score: 72/100) – Main resistance, directly above EMA20 and a 1W supply block. Strong reasons: Gateway to Supertrend resistance at $1.81, rejected 3 times on 3D (strong wicks), Fibonacci 0.382 extension. First milestone toward upside target $2.1929 (score 31/100). $2.1929 is the major target: Near ATH, 1W order block and psychological round number. Break confirmation requires volume increase and MTF close; failure deepens the drop after liquidity grab.

Liquidity Map and Big Players

Big players (smart money) may be targeting liquidity pools below $1.4676 – this is where retail stops are concentrated. Above, the $1.5355-$1.6425 range provides sell-side liquidity, with imbalances (fair value gaps) as breakout triggers. Order flow analysis: Absorption signals at the $1.48 low in the last 24h, buyers accumulating positions here. From a 1W perspective, $1.30s are a major sweep area; if BTC dominance rises, pull toward here strengthens. Liquidity map: Supports are demand-heavy, resistances supply-dominant. Whales using $1.50 area for manipulation – watch for equal highs/lows fakeouts.

Bitcoin Correlation

BTC at $89,525 level in downtrend, approaching $88,436 support with -0.37% 24h loss. SUI highly correlated with BTC (0.85+); if BTC breaks $86,713, SUI dragged to $1.30s. Monitor BTC resistances $90,371-$92,316: Break lifts SUI to test $1.64. BTC Supertrend bearish, caution for altcoins – dominance rise accelerates SUI liquidity sweep. BTC $84,681 major support; if fails, SUI downside to $0.91 activates.

Trading Plan and Level-Based Strategy

Level-based outlook: Hold above $1.4676 for long bias ($1.5355 target, stop below $1.46). Break for short ($1.30 target, invalidation above $1.5355). Target R/R 1:2+. Detailed data in SUI Spot Analysis and SUI Futures Analysis. This outlook is price action based – markets are variable, do your own research.