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SUI is trading at $2.2616, navigating a volatile crypto market that’s down 4.4% in total market cap over the last 24 hours. As a Layer 1 blockchain, SUI stands out with its object-centric data model and Move programming language, emphasizing scalability and user accessibility. Its token serves multiple roles: staking, gas fees, utility, and governance. With a market cap of $7.51 billion and a circulating supply of 3.17 billion SUI (out of 10 billion), SUI ranks between #19 and #23 among cryptocurrencies. Recent trading volume is robust, ranging from $578.34 million to $742.90 million in 24 hours, signaling strong market activity. The price is well below its all-time high of $5.35 (January 4, 2025), with recent lows at $2.01 and highs at $2.42. Sentiment is mixed: some traders eye a breakout from a descending channel and partnerships as bullish, while others flag bearish divergence and a broken macro structure, hinting at downside risks to $1.30-$0.95.
Technical Indicators and Key Levels
Short-Term (1-Hour and Daily Charts):
Support: $2.20 (immediate), $2.01 (cycle low)
Resistance: $2.38 (24-hour high), $2.42 (cycle high), $2.50
Indicators: RSI ~50 (neutral), MACD bearish but hinting at reversal. A hold above $2.20 could spark a rally to $2.38-$2.50.
Long-Term (Weekly Chart):
Support: $2.00, $1.30-$0.95
Resistance: $2.50, $3.00, $5.35 (ATH)
The 200-day MA is falling, reflecting long-term pressure, but holding $2.00 is key for bulls.
Potential Scenarios
Bullish Case: Hold $2.20, break $2.38 with volume → target $2.42-$2.50 (short-term), $3.00 (long-term).
Bearish Case: Drop below $2.20 → test $2.01; below $2.00 risks $1.30-$0.95.
Volume is critical—watch for spikes to confirm moves.
Broader Context and Tips
SUI’s fundamentals, scalability, user-friendly features like zkLogin, and ecosystem growth, offer long-term promise, but short-term risks loom. External factors like regulatory shifts or macro events (e.g., US inflation data) could sway its path. Traders should focus on $2.20, a hold keeps bulls in play, a break signals caution. Use tight stops (e.g., below $2.20 for longs) and stay alert for news on partnerships or adoption. Long-term, $2.00 is a key floor for accumulation.
SUI is trading at $2.2616, navigating a volatile crypto market that’s down 4.4% in total market cap over the last 24 hours. As a Layer 1 blockchain, SUI stands out with its object-centric data model and Move programming language, emphasizing scalability and user accessibility. Its token serves multiple roles: staking, gas fees, utility, and governance. With a market cap of $7.51 billion and a circulating supply of 3.17 billion SUI (out of 10 billion), SUI ranks between #19 and #23 among cryptocurrencies. Recent trading volume is robust, ranging from $578.34 million to $742.90 million in 24 hours, signaling strong market activity. The price is well below its all-time high of $5.35 (January 4, 2025), with recent lows at $2.01 and highs at $2.42. Sentiment is mixed: some traders eye a breakout from a descending channel and partnerships as bullish, while others flag bearish divergence and a broken macro structure, hinting at downside risks to $1.30-$0.95.
Technical Indicators and Key Levels
Short-Term (1-Hour and Daily Charts):
Support: $2.20 (immediate), $2.01 (cycle low)
Resistance: $2.38 (24-hour high), $2.42 (cycle high), $2.50
Indicators: RSI ~50 (neutral), MACD bearish but hinting at reversal. A hold above $2.20 could spark a rally to $2.38-$2.50.
Long-Term (Weekly Chart):
Support: $2.00, $1.30-$0.95
Resistance: $2.50, $3.00, $5.35 (ATH)
The 200-day MA is falling, reflecting long-term pressure, but holding $2.00 is key for bulls.
Potential Scenarios
Bullish Case: Hold $2.20, break $2.38 with volume → target $2.42-$2.50 (short-term), $3.00 (long-term).
Bearish Case: Drop below $2.20 → test $2.01; below $2.00 risks $1.30-$0.95.
Volume is critical—watch for spikes to confirm moves.
Broader Context and Tips
SUI’s fundamentals, scalability, user-friendly features like zkLogin, and ecosystem growth, offer long-term promise, but short-term risks loom. External factors like regulatory shifts or macro events (e.g., US inflation data) could sway its path. Traders should focus on $2.20, a hold keeps bulls in play, a break signals caution. Use tight stops (e.g., below $2.20 for longs) and stay alert for news on partnerships or adoption. Long-term, $2.00 is a key floor for accumulation.
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Join our channel:
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🟠 t.me/monocoin_public
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🟠 t.me/monocoin_public
🔵 t.me/monocoin_public
🟠 t.me/monocoin_public
🔵 t.me/monocoin_public
🟠 t.me/monocoin_public
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.