- SUI’s price consolidates within $1.60–$2, forming a re-accumulation zone with potential for a high-timeframe breakout above resistance.
- Daily charts show a descending channel rebound, suggesting buyers are entering and pushing SUI toward $2.40–$2.50 short-term resistance.
- TD Sequential signals indicate a potential bottom near $1.90–$2, with a confirmed breakout possibly driving SUI to $2.80 and higher.
SUI is trading at $2.14, rising 7.92% in 24 hours with a $1.41 billion trading volume. Despite a 9.82% decline over the past week, the token shows signs of recovery within its key $1.6–$2 support zone.
SUI Technical Setup on Higher Timeframes
Recent analysis by Crypto Patel on SUI/USDT suggests that the token is forming a high-timeframe breakout structure. The price consolidates within the $1.6–$2.0 demand zone, showing re-accumulation and trendline compression.
Historical liquidity grabs below support have previously triggered sharp upward rallies.Analyst Crypto Patel noted that breaking the descending blue trendline could trigger a strong upward extension.
The analyst targets $20, reflecting a potential massive 1,100% gain from current level. The analyst emphasized that support near $1.60 must hold for the bullish structure to remain valid.
Volume activity and breakout confirmation remain crucial for any significant upward movement. Traders are advised to monitor these indicators before entering positions.
Failure to maintain the support zone may invalidate the projected breakout scenario.If the price breaks $2.25–$2.30, a recovery toward $2.60–$2.80 could be next, but If rejected a pullback to $2.00 or $1.80 is possible.
Daily Chart Patterns and Short-Term Movements
The daily SUI/USDT chart on Bybit presents a descending channel, defined by parallel trendlines guiding the downtrend. The price recently rebounded from $1.95–$2.00 and turned it into a dynamic support zone,however volume has remained moderate,reflecting cautious buying interest.
Indicators Suggesting Potential Bottom Formation
Ali, a market analyst, notes that the TD Sequential is showing a buy signal for SUI, suggesting that the bottom might be forming. Recent consolidation within a descending range has produced minor recoveries but maintained lower highs.
Volume confirmation and closing above resistance are key for validation of the trend.
Failure to sustain gains above local resistance may resume the downtrend toward $1.80 or below. Analysts are observing these levels closely, given the repeated tests of critical support. Historical patterns indicate that liquidity grabs could precede potential upward movements.
