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SUI Bulls Watch Key Levels as Support Holds Firm

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Sui (SUI) continues to attract attention as traders monitor its price movement and network developments. Analysts, however, say that the overall structure is still alive even after the recent price drops.

SUI is currently trading around $2.7, down more than 20% on the week, but holding key support.

Price Holds Above Key Support Zone

On the weekly chart, SUI is supported by a support range above $2.63. The asset has formed a series of higher lows, which is a sign that buyers are still present during the dips. This pattern is frequently observed in accumulation phases, particularly right before breakout attempts.

Michaël van de Poppe noted that a similar setup appeared before the rally in late 2024. He pointed out that the current pattern “still shows strength,” with support levels remaining steady. So far, there is no break in the structure.

SUI has repeatedly hit the $4.20 resistance level. In every instance, the price fell back, but the lows kept rising. This may indicate that resistance is losing its strength, although a breakout is still not on the cards.

SUI price chart
Source: Michaël van de Poppe/X

Van de Poppe wrote that “resistance becomes weaker” with this type of buildup. If SUI moves above $4.20 with volume, it could trigger a run toward new highs. Until then, the price remains in a sideways range between support and resistance.

Triangle Break Sparks Mixed Views

Lark Davis shared a different view after SUI dropped below a key trendline that had formed part of an ascending triangle. The breakdown happened during a sharp sell-off. That support line is now acting as resistance.

According to Davis, if SUI can move back into the triangle and hold, it may confirm a false breakdown. If not, he believes there is a risk of more downside, especially if the price fails to reclaim that zone.

Network Activity and Institutional Growth

Van de Poppe also pointed to network growth as a factor in SUI’s long-term case. Grayscale has launched trusts tied to projects in the ecosystem. Stablecoin and BTC total value locked (TVL) on Sui has also risen in recent months.

Bluefin DEX, a decentralized exchange on Sui, reached record trading volume in October. Meanwhile, Sui partnered with Figure Technology to bring the YLDS token to the network. The token is backed by short-term Treasurys and repo agreements.

The combination of steady support, ecosystem expansion, and early institutional steps continues to keep SUI on the radar for traders looking for potential upside.

A publicação SUI Bulls Watch Key Levels as Support Holds Firm apareceu primeiro em CryptoPotato.

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