SUI has maintained its recovery momentum since reaching lows in June, with technical indicators suggesting that buyers remain active around designated support levels. As SUI’s price approache
SUI has maintained its recovery momentum since reaching lows in June, with technical indicators suggesting that buyers remain active around designated support levels. As SUI’s price approaches a critical resistance area in the short term, the overall sentiment stays cautiously positive as long as the $0.65 level holds.
Analyst More Crypto Online believes the five-wave downward structure previously observed has likely run its course. Against this backdrop, SUI’s price is heading toward a key resistance between $0.73 and $0.78. Holding above $0.65 is seen as crucial to preserving the integrity of the ongoing rebound.
According to Elliott Wave analysis, a breakout above $0.78 could confirm a strengthening of the second wave of recovery. In this scenario, the next areas to watch as resistance would be between $0.95 and $1.20. Sustained buying interest might even push SUI toward a higher range of $1.38 to $1.73.
More Crypto Online explains that so long as the $0.65 support is intact, SUI’s recovery structure would remain in effect, while a move above $0.78 could significantly accelerate the upward trend.
Conversely, a drop below $0.65 could weaken the current recovery scenario, potentially increasing selling pressure and bringing SUI back to the $0.49 support region.
Technical indicators, despite recent price weakness, reveal that the recovery bias has not been entirely invalidated. The MACD line remains in negative territory but is positioned above its signal line. Additionally, the histogram is still in positive territory, implying buyers have not yet relinquished short-term control.
The RSI stands at 48.11, maintaining a position above its moving average. While the RSI is below 50, it remains within the neutral zone, indicating neither buyers nor sellers hold a decisive advantage at this point.
Beyond price movement, the Sui network recently achieved a live mainnet test, reaching over 6 million transactions per second (TPS). As a layer 1 blockchain designed for high-speed processing, Sui’s latest result marks a substantial leap beyond its earlier 2.5 million TPS record.
Mini glossary: TPS stands for transactions per second and measures a blockchain network’s transaction capacity. Mainnet refers to the project’s live blockchain environment with real users and assets.
The network’s test phase began above 1 million TPS, with transactions being executed fee-free. The trial took place during competitions among AI agents in multiple decentralized applications. This development is viewed as a key factor that could drive further investor confidence.
For SUI’s near-term trajectory, the contest between the $0.65 support and $0.78 resistance is decisive, while the successful high-capacity test on mainnet is reinforcing the network’s long-term prospects.
Looking ahead, whether SUI can break out of its current range to the upside will be closely monitored. If the $0.65 support holds and market momentum grows, the chances of a move above $0.78 will increase. By contrast, if Bitcoin continues to trade in a balanced pattern and overall market momentum remains subdued, SUI may remain rangebound for some time.
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