The SUI token shows impressive performance following a $17 million accumulation wave that pushed its price up. Traders are now eyeing a critical psychological level: the $2.20 mark, dependent on various technical and fundamental factors detailed in our analysis.
The arrival of $17 million in net purchases over a highly concentrated period marks a turning point in the positioning of whales and institutional investors. This accumulation phase occurs as the support zone between $1.80 and $1.90 has shown remarkable resilience. On-chain data indicates that wallets holding between 100,000 and 1 million SUI have steadily strengthened their positions, while average daily volume has surged by 45% over one month.
Simultaneously, the order book shows growing buying pressure, with several tests of the key $2.10 level accompanied by sustained volumes. This configuration suggests structured accumulation ahead of a possible breakout toward $2.20. Short liquidations, which reached $3.2 million, have contributed to fueling the ongoing bullish movement.
The possibility of SUI being integrated into crypto ETFs also represents a major catalyst. Such inclusion would place SUI alongside altcoins already benefiting from direct institutional exposure. Market precedents show that similar announcements have triggered rallies of 30 to 80%, which could push SUI toward $2.50 to $2.80 if official confirmation arrives.
Despite this favorable dynamic, several technical obstacles remain. The $2.05–$2.08 zone, where the 50-day EMA and a 61.8% Fibonacci retracement overlap, constitutes the first notable resistance. A rejection could bring SUI back toward the $1.95 support. The 4-hour RSI, close to 68, indicates a market approaching overbought territory, while the MACD shows bullish momentum beginning to slow.
The volume profile highlights a crucial POC around $2.12, a zone where the largest historical trades have concentrated. To break through this level, SUI will likely need volume at least 50% higher than the 20-day average. Without this impulse, lateral consolidation between $2.00 and $2.15 remains the most probable scenario.
Nevertheless, if volumes follow through and the market confirms the institutional trend, SUI could quickly target $2.20, a threshold whose break could potentially open the door to a new phase of bullish expansion.
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