eCash (xec) 
Sui (SUI) Price Jumps 5.16% Amid Bullish Momentum
The cryptocurrency market has seen renewed buyer interest in Sui (SUI), with the token rallying 5.16% over the past 24 hours. This upward movement highlights growing momentum, even as the price encounters technical resistance. Despite the short-term hurdles, the broader market structure for Sui remains decisively bullish, supported by higher highs and higher lows on macro timeframes.
Key Technical Levels to Watch
As Sui continues its bullish run, several critical resistance and support levels are in focus. These levels provide insight into potential price movements and opportunities for investors:
Local Resistance at $3.88
The price has approached the 0.618 Fibonacci retracement level, which aligns with the midpoint of an ascending price channel. This area is currently acting as a strong resistance zone, temporarily stalling the rally.
Key Support at $3.33
In the event of a pullback, the $3.33 level emerges as a crucial support area. This zone aligns with multiple technical indicators, including the Volume-Weighted Average Price (VWAP) and a secondary 0.618 Fibonacci level, marking it as a strong potential buy zone.
Broader Bullish Market Structure
Despite facing resistance, Sui’s price action remains firmly within a bullish framework. The trend of higher highs and higher lows on macro timeframes signals continued strength, even amid minor intraday retracements.
Analyzing the SUI/USDT Chart
On the 4-hour chart, Sui’s recent move into the $3.88 resistance zone has triggered short-term consolidation. This zone, which coincides with the 0.618 Fibonacci level and the midpoint of the ascending price channel, has temporarily capped the rally. However, this resistance is viewed as a short-term obstacle rather than a trend reversal.
If the price retraces, a move toward the $3.33 support level is likely. This area, marked by strong confluences such as the VWAP and Fibonacci levels, could provide a platform for buyers to re-enter the market. A higher low at this level would reinforce the bullish trend and set the stage for a potential move toward the next major resistance near $4.65.
What to Expect Next
Should Sui fail to break above the $3.88 resistance in the near term, a healthy correction toward the $3.33 support zone could occur. Such a pullback would not indicate a breakdown but rather a reset in momentum, allowing the market to consolidate before another upward push. As long as the $3.33 support holds, the bullish structure remains intact, paving the way for a potential price target of $4.65.
For investors, keeping an eye on these key levels can help identify opportunities to capitalize on Sui’s ongoing uptrend. With the overall market sentiment remaining positive, Sui’s price action is one to watch closely in the coming days.
