SUI Tests Critical $1.51 Support with Potential for Short-Term Bounce Above $1.58
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 5d ago- Support Level Testing: SUI price has returned to the $1.51 support zone, indicating buyer interest in this critical area; if it holds above this level, a short-term bounce to $1.54-$1.58 is anticipated, boosting market confidence.
- Stable Trading Volume: Current data shows SUI's 24-hour trading volume near $951 million, reflecting ongoing market participation; despite the price nearing recent lows, stable trading activity may provide necessary support.
- Trendline Support: Analysts note that SUI is responding well to rising trendline support, maintaining the overall bullish structure; as long as the price stays above this trendline, short-term moving averages could further support a recovery phase.
- Potential Recovery Target: Should buying pressure increase, analysts suggest SUI could rebound to $2.05, indicating optimistic market expectations for a short-term bounce, although losing support could lead to deeper downside risks.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
