After spending weeks under persistent selling pressure, the SUI price appears to be approaching a decisive technical turning point. The token has successfully defended a major demand zone aro
After spending weeks under persistent selling pressure, the SUI price appears to be approaching a decisive technical turning point. The token has successfully defended a major demand zone around $0.69-$0.71, while the pace of the downtrend has slowed considerably. This suggests that sellers may be losing control; however, the recovery remains incomplete. The next move will depend on whether bulls can break the descending resistance that has capped every rally throughout the correction.
SUI continues to trade within a descending channel on the 4-hour timeframe, a structure that has defined the correction for weeks. The recent rebound from the lower boundary of the channel and the strong reaction from the $0.69-$0.71 support zone indicate that buyers are becoming increasingly active at lower levels. The immediate challenge is the descending resistance trendline, which currently acts as the primary barrier preventing a broader recovery.
The MACD has produced a bullish crossover, suggesting that bearish momentum is fading and buyers are regaining strength. While this does not guarantee a reversal, it supports the possibility that the prolonged correction may be entering its final stages. If bulls confirm the breakout, the first major objective lies near $1.07, where a significant volume profile resistance exists, and sellers may attempt to regain control.
A decisive move above this region would considerably improve the market structure. It could pave the way toward the next major resistance at $1.23, representing a potential gain of more than 60% from current levels. On the downside, the bullish thesis remains valid only while the major demand zone holds. A breakdown below $0.57would invalidate the current setup, suggesting that sellers have regained control and increasing the probability of another leg lower.
For now, SUI is less about momentum and more about confirmation. The token has defended a critical support zone, momentum indicators are improving, and buyers are attempting to challenge the trend that has defined the entire correction. As long as support remains intact, the focus shifts to the descending resistance. A successful breakout and retest could mark the beginning of a larger recovery toward $1.07 and eventually $1.23, while failure to clear this barrier would likely keep SUI trapped within its corrective structure.
