SUI is showing resilience in the market after rebounding from its recent low of $3.67. In the last 24 hours, the token climbed 4%, now holding around $3.92.
Its market capitalization has reached $13.55 billion, supported by a strong 24-hour trading volume of $1.7 billion. Although this uptrend reflects a short-term recovery, broader technical signals suggest buyers are beginning to show signs of fatigue.
The token earlier touched $4.43, its recent peak, but was unable to sustain those levels. As the price faces pressure from broader bearish sentiment in the crypto market, upside momentum appears to be fading.
SUI technical indicators reveal waning bullish momentum
Technically, SUI continues to trade above major moving averages, maintaining a bullish structure. It remains above the 20-day EMA ($3.78), with the current price range hovering between $3.7487 and $3.9599.
The 20-day simple moving average at $3.88 is acting as immediate support, while the 50-EMA and 200-EMA at $3.51 and $3.17 offer stronger downside protection.
The Bollinger Bands are widening, indicating elevated volatility. However, the price recently tested the upper band at $4.22 and failed to break higher, signaling a loss of upward pressure. The RSI sits at 56.33, slightly above neutral, but reflects bearish divergence from previous highs, an early warning sign.
The MACD indicator has also turned negative, with the MACD line slipping below the signal line. A bearish crossover, along with a negative histogram reading (-0.03496), suggests reduced buying activity and the possibility of a short-term pullback.
Consolidation expected if key supports hold
While SUI’s broader trend remains bullish, its current behavior suggests it may pause or retrace before another leg up. Unless the token breaks past $4.22, it could enter a sideways phase. Immediate support sits at $3.88, but if this fails, traders will likely eye the $3.51 and $3.17 zones.
Holding above these levels will be critical to maintain the long-term uptrend. A drop below $3.17 could shift the market tone and invite deeper downside movement.
For now, traders are keeping a close watch as SUI tries to stay above key levels, with momentum indicators hinting at a possible cooldown.