SUI Price Holds Support as Bulls Target Breakout Above $3.50
The SUI price is currently consolidating after a strong run-up that began near the end of June.
While momentum remains positive overall, SUI price action over the past few days suggests the market is at a critical inflection point. Traders are now watching how the token behaves around key resistance levels and large order book walls, which could either trigger a breakout or set up a pullback.
SUI Price Momentum Shows Strength but Faces a Ceiling
SUI’s recent uptrend pushed it sharply higher from under $3, and while it briefly touched new local highs, the rally paused just below major resistance around $3.49. This level aligns with a prior top and is reinforced by substantial ask-side liquidity, particularly an ask wall at $3.50, where over 330,000 units are stacked. If bulls can punch through this liquidity, there’s room for a potential upside move of roughly 3.3%, with the next hurdle likely appearing around $3.558.
Daily chart for SUI/USD (Source: GeckoTerminal)
Technical momentum indicators, including the MACD and RSI, suggest buyers are still in control but may be losing some steam. The MACD continues to climb above its signal line, reflecting bullish pressure, though the histogram is flattening slightly, indicating a possible slowdown in momentum. Meanwhile, the RSI has held above neutral territory but is not yet in overbought conditions, suggesting there’s still some room for further gains without triggering a major reversal.
SUI Support Zones Shield Downside Risks—for Now
On the downside, the most immediate support sits just above $3.27, a level that has acted as a key pivot in recent sessions. Below that, areas around $3.19 form a strong demand zone, supported by multiple bid walls that have been holding the line. Notably, there’s significant buying interest at $3.25, where nearly 260,000 units are stacked—representing a defense line of over $840,000. Should this wall collapse, the SUI price could drop by about 4%, potentially dragging the SUI price down to its next support.
Two more layers of defense are present at $3.28 and $3.26, with meaningful liquidity that could slow any downward move. If all three of these bid walls fall in succession, it could signal a deeper correction and shake out weak hands from the current rally.
Order Book Suggests Potential Breakout—or Bull Trap
The order book provides a fascinating look at the tug-of-war between buyers and sellers. The ask wall at $3.40870 is relatively small but significant—it’s the first barrier to test, and clearing it may push SUI up just enough to challenge the larger $3.50 wall. Breaking $3.50 could serve as the confirmation signal many bulls are waiting for.
However, if the SUI price stalls or gets rejected from that level again, it may spark short interest and trap late buyers, setting up a retracement. The proximity of this resistance cluster means traders should closely watch volume and reaction at those levels for confirmation.
SUI Trade Setups: Long and Short Strategies
Long Setup: Traders looking for a long position might consider entering on a confirmed breakout above $3.50 with strong volume. A clean move above this resistance, especially if the ask wall gets absorbed quickly, by the SUI price could target the next resistance near $3.558. Stop-loss orders could be placed just below $3.27, where the next significant support lies.
Short Setup: For short opportunities, a rejection from the $3.49–$3.50 area—particularly if accompanied by a bearish divergence in RSI or a MACD crossover—may provide a high-risk, high-reward setup. In this case, shorting near resistance with targets around $3.26–$3.19 could prove effective. Be cautious, though, as the underlying trend still favors buyers, and bid wall strength remains formidable.
Conclusion
The SUI price is at a critical decision point. The trend leans bullish, but strong resistance overhead could delay a continuation. If the token breaks through $3.50 and maintains strength, it may open up another leg higher. However, failure to clear resistance or a breakdown below the key bid walls could lead to a notable retracement.
With both technical indicators and order book data providing mixed but actionable signals, traders should stay nimble and respect risk levels.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
