- SUI is trading at $2.15, down 4.57%, with analysts divided—some see buy signals, while others warn of a bearish breakdown to $1.60.
- Key levels to watch: $2.25 resistance needs to be reclaimed for an uptrend, while $2.00 support must hold to prevent further declines.
- Derivatives trading volume is up 28.87%, but open interest is dropping, signaling that traders are closing positions or facing liquidations.
Sui (SUI) is flashing mixed signals, keeping traders on edge. Some analysts see buying potential, while others warn of further downside risk. The uncertainty has traders watching key support and resistance levels closely.
SUI Price Overview
At the time of writing, SUI trades at $2.15, down 4.57% over the past 24 hours, with a market cap of $6.79 billion. The token has been stuck in a tug-of-war between bulls and bears, as technical indicators tell conflicting stories.
Analysts Divided on SUI’s Next Move
Bullish Signals: A Chance for Recovery?
Market analyst Ali Charts highlighted the TD Sequential indicator, which flashed multiple buy signals on the daily timeframe. This hints that a recovery could be brewing, provided SUI holds above key levels.
Despite these bullish indicators, the trend remains bearish. Since mid-January, SUI has been forming lower highs and lower lows—a textbook downtrend.
- Resistance: $2.25 – a level bulls need to reclaim for any serious upside.
- Support: $2.00 – a crucial level that needs to hold to validate the buy signals.
If SUI breaks below $2.00, the downtrend could accelerate, leaving bulls in a tough spot.
Bearish Take: The Head and Shoulders Breakdown
CryptoMutant, another analyst, has a contrasting view. According to them, SUI has formed a Head and Shoulders pattern, which often signals a bearish reversal.
If this pattern plays out, SUI could sink to $1.60—a level where some traders might look to buy back in. However, if sentiment stays weak, even lower levels are possible.
Technical Analysis: Bearish Pressure Building?
- Moving Averages: Exponential moving averages (EMAs) are trending downward, reinforcing the bearish outlook.
- Ichimoku Cloud: Price remains below the cloud, suggesting resistance is heavy.
- Relative Strength Index (RSI): Sitting at 31.60, nearing oversold conditions. A drop below 30 could trigger a short-term bounce.
- MACD: Bearish momentum persists, as the MACD line stays below the signal line, with histogram bars remaining negative.
If SUI breaks below $2.00, bears could push it even lower. However, a quick bounce from this level could set up a counter-trend rally, potentially trapping shorts.
SUI Derivatives Market: High Activity, But Uncertain Direction
Analyst Michael van de Poppe provided a long-term outlook, noting that SUI has fallen over 50% from recent highs. According to him, this level could attract long-term investors, given its high-timeframe support.
However, he warned that broader market sentiment would play a big role in SUI’s fate. A weak crypto market overall could mean further losses, despite the technical setup.
Key Market Data:
- Derivatives trading volume: Up 28.87% to $2.03 billion—indicating increased market participation.
- Open Interest: Down 5.86%, suggesting some traders are closing positions or facing liquidations.
Bottom Line: What’s Next for SUI?
- Bullish scenario: If $2.00 holds, SUI could push toward $2.25 and beyond.
- Bearish scenario: A breakdown below $2.00 could open doors for $1.60 and lower.
The market is at a tipping point—whether SUI rebounds or slips lower depends on broader sentiment and key technical levels. Bulls and bears are locked in battle, and the next few days could be crucial.
