Short-term recovery emerges after sustained selling pressure, though broader trend remains cautious.
Sui (SUI) posted a 7% rebound after finding demand near a critical support zone, signaling renewed short-term buying interest following weeks of downside pressure. The move comes after SUI briefly dipped toward the lower end of its recent range before buyers stepped in, pushing price back toward the $1.45–$1.46 area. Despite the bounce, overall market participation remains measured.
Recent price behavior indicates a technical reaction from support rather than a full trend reversal. SUI had been trading within a declining structure, marked by lower highs and repeated breakdowns. The bounce emerged after price tested a well-defined demand zone near recent lows, triggering short-covering and fresh dip-buying.
On the downside, the support area around the mid-$1.30 range has proven significant, acting as a floor for the latest rebound. Holding above this zone is critical to prevent renewed selling pressure. On the upside, multiple overhead resistance levels between $1.50 and $1.70 continue to cap gains, where previous selling activity remains concentrated.
Trading volume increased modestly during the rebound but did not show a decisive surge. This suggests that while buyers are active, broader conviction across the market is still limited. Stronger follow-through would likely require sustained volume expansion and improved sentiment across the crypto market.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.