SUI price continues to trade near a crucial support zone after facing growing selling pressure across the broader altcoin market. However, sentiment around the token has started shifting following the recent exhaustion of major VC and insider token allocations, which had remained one of the biggest overhangs on SUI price action since launch. With the primary vesting cycle for early investors and core contributors now largely completed, traders are now questioning whether the reduction in structural sell pressure could help SUI establish a stronger accumulation range.
Can the bulls defend the current support zone and trigger a fresh recovery rally? Or will weakening market sentiment continue to keep the price trapped below key resistance levels in the coming weeks?
SUI Price Trades Within a Predefined Level
The SUI price is currently trading around $1.03 after declining nearly 1.79%, while trading volume has also dropped by over 6.8%. Following a rejection from the local highs near $1.42, the token has witnessed a sharp correction and is now testing a pivotal support zone around $1.00. Despite the recent token unlocks, SUI has managed to hold this support firmly, signaling growing buyer conviction and reduced structural sell pressure. Meanwhile, the project’s fully diluted valuation remains between $10 billion and $15 billion, even as early VC allocations have largely been unlocked and distributed at a profit.
However, the broader crypto market continues trading under bearish pressure, keeping the possibility of an extended pullback elevated in the short term.
The token continues to trade above the ascending trendline support, indicating the broader bullish structure remains intact despite short-term weakness. Meanwhile, the RSI has dropped close to the lower range, suggesting bearish momentum is gradually cooling, while the MACD is beginning to show early signs of a bullish crossover after an extended pullback phase. If SUI manages to hold the current support zone and reclaim the resistance near $1.10, the bulls could regain momentum and trigger a recovery rally toward higher resistance levels in the coming sessions.
Key Levels to Watch
- Immediate Support: $1.02 to $1.04
- Major Support Zone: $0.96
- Trendline Support: Near $1.00
- Immediate Resistance: $1.10
- Major Resistance Zone: $1.26 to $1.30
- Bullish Target: $1.40
Will SUI Price Rebound Toward $2?
SUI price continues to trade at a crucial technical level as buyers attempt to defend the key support zone near $1.00. The exhaustion of major VC-related sell pressure and the improving momentum indicators suggest the token may be entering a stronger accumulation phase despite the ongoing market weakness. However, the bulls still need to reclaim the resistance near $1.10 to confirm a sustained recovery rally.
If SUI manages to maintain the ascending trendline support and break above the immediate resistance zones, the token could regain bullish momentum and gradually target higher levels in the coming weeks. While the path toward $2 remains dependent on broader market conditions and sustained buying pressure, the current setup suggests the possibility of a stronger rebound remains intact.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
