After a sharp correction in the cryptocurrency market, SUI has managed to maintain its crucial support zone around $1.04. Buyers have started to return in recent days, sparking hopes for a short-term recovery. Analysts are closely watching whether the price can climb back to the $1.15–$1.20 range.
Trading at a key support level
Following the recent drop, SUI is trading near $1.07 and has found solid support between $1.00 and $1.04. Market experts highlight this range as pivotal for short-term direction. According to CryptoAppsy data, SUI currently trades at $1.07, up 1.49% in the past 24 hours. The asset’s market capitalization sits at $4.29 billion, with a 24-hour trading volume around $489.72 million.
SUI is holding the critical $1.04 support following a strong correction. Buyers have started to gradually re-enter the market; if the recovery gains momentum, SUI could retest the $1.15–$1.20 band.
If SUI can cling to the current support, the price is expected to attempt an initial move toward the $1.15–$1.20 resistance zone. However, failure to decisively break through could result in sideways trading or a retest of lower levels.
There are currently 4 billion SUI tokens in circulation out of a maximum supply of 10 billion. This leads to a fully diluted valuation of $10.72 billion, reflecting how the total token supply and circulating amount affect SUI’s overall valuation.
Glossary: Fully diluted valuation means the total market value a cryptocurrency would have if all possible tokens were in circulation. This includes tokens that have yet to be released or unlocked, giving a more complete picture of potential market cap.
Correction phase and key resistance
On the SUI/USDT daily chart, the price has undergone a significant pullback after its previous upward momentum. Having started its drop from $1.865, SUI has now fully retraced the earlier rally that peaked at $4.386. The current price being below the previous Fibonacci retracement level of $1.865 adds to the prevailing downside pressure.
The $1.86 to $1.90 region now stands out as an important technical resistance, with daily closes above this range considered a sign of renewed strength. Other potential resistance levels are marked at $2.404, $2.828, $3.125, $3.423, and $3.791, though these remain distant targets for now.
In the near term, investors are mainly eyeing a move toward the $1.18–$1.20 band, while a sustainably strong recovery would require daily closes above $1.86.
What do momentum indicators signal?
Technical indicators suggest early signs of a rebound, but analysts see the recovery phase for SUI as only just beginning. The Relative Strength Index (RSI) sits near 52, which is just above the neutral 50 threshold, signaling limited bullishness. Meanwhile, the MACD (Moving Average Convergence Divergence) indicator has turned positive on the daily chart.
Glossary: MACD is a technical analysis tool that shows trend direction and strength using two moving averages. When the MACD line crosses above or below the signal line, it generates buy or sell signals respectively.
Currently, the MACD line is above the signal line and the histogram remains in positive territory, yet the low histogram volume points to a relatively weak momentum behind the ongoing recovery.
For SUI to return to a strong upward trend, it needs to hold its current ground and decisively surpass the $1.18–$1.20 range. If momentum fades, there is a risk of the price revisiting the $0.90–$1.00 area.
