SUI Absorbs the Shock: Is the Selling Pressure Over?
Currently trading around $1.05, the price of SUI is showing a slight increase of 1.79% over the last 24 hours, accompanied by a 6.8% drop in trading volume. This lull comes after a sharp retracement following a brutal rejection at the $1.42 zone.
Indeed, SUI has formed a daily bearish order block. This represents significant profit taking following its staggering 40% single day surge. SUI is now trading just below its 50 period moving average at $1.07. If it reclaims this resistance and flips it into support, SUI could edge closer to its 200 period moving average at $1.25.
Behind the scenes, a major shift in momentum is taking place. The massive selling pressure historically linked to token unlocks from venture capitalists (VCs) and insiders is coming to an end. This structural burden, which has weighed heavily on price action since launch, now appears to be exhausted.
Despite a fully diluted valuation (FDV) hovering between $10 billion and $15 billion, the absorption of these massive sell offs indicates strong buyer conviction. The market is potentially entering a strategic accumulation phase, ready to capitalize on the slightest bullish spark.
Technical Analysis: The $1.00 Support in Sight
On the charts, the setup remains promising. SUI is holding firmly to its psychological and technical support at $1.00. More importantly, the asset is still trending above its ascending trendline, confirming that the macroeconomic bullish structure remains intact despite short term volatility.
Zooming in on the 12 hour chart, SUI is trading between two 12 hour order blocks at $1.25 to the upside and $0.97 to the downside. SUI is therefore currently stuck in a tight range. A breakout from either of these zones could send SUI into an explosive rally toward $1.80, or crashing down to new lows.
To validate this reversal, buyers must imperatively reclaim the immediate resistance located at $1.07. Breaking through this level with volume would pave the way for a bullish acceleration toward the first liquidity cluster at $1.11.
Following that, the first major cluster sits at $1.24, a target to watch if SUI breaks past $1.11. Furthermore, the short cluster extends all the way up to the local high at $1.40.
Can the SUI Token Ignite a 25% Rally?
If the bulls manage to defend this strategic floor and smash through the $1.10 resistance, a 25% recovery rally is highly plausible in the upcoming sessions. The purge of institutional sellers provides a clear path for a new ascent.
Conversely, if the broader crypto market sentiment continues to deteriorate, SUI could remain trapped in a consolidation channel, testing investors’ patience. The battle around $0.97 promises to be decisive for the remainder of the cycle.
Is this the perfect time to accumulate SUI before the next market surge? For now, range trading is the preferred strategy. The bottom looks solid, but the daily bearish order block will slow down SUI’s upward momentum in the coming weeks if a market rebound occurs.
However, given the current structure, SUI seems to be heading toward $1.11 first, and it could reach this target before the end of the week. This already offers an upside of nearly 5%.
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