SUI remains inside a major resistance zone, with $1.36 and $1.42 serving as important structural checkpoints. The downside has pushed price close to $1.18 and $1.20 is the key level for short
SUI is testing major resistance between $1.02 and $1.71, while recent price weakness leaves the developing recovery structure awaiting clearer confirmation.
More Crypto Online says SUI remains within the 1.02-1.71 resistance area. The analysis follows a rebound from deeper support during August.It points to the existing wave that is in the process of forming an Elliott Wave.
Source: X
The lower trendline is at the 23.6% Fibonacci level of $1.03. The 50% retracement level is at $1.71 in the meantime. These levels create a broad technical barrier for the ongoing recovery.
The analysis indicates the advance currently resembles a three-wave structure. A higher low could establish wave four within that sequence. Another upward move could then complete a larger five-wave pattern.
However, the recovery remains unconfirmed while resistance continues to contain price. The structure therefore depends on progressively stronger highs. Sustained breakout will give better affirmation of further upside.
The first major checkpoint sits near $1.36 on the chart. Above it, the May swing high near $1.42 becomes another important barrier. Clearing both levels would strengthen the developing wave structure.
Source: Coinmarketcap
The $1.71 level remains the broader resistance that ultimately needs confirmation. This would be the most important step away from it in the marked area. So, the recovery is not complete yet.
That confirmation is still necessary, though, given recent price action. SUI pulled back to around $1.24 before heading back to $1.18. The transfer resulted in a rise in the short term sell pressure and lower highs.
Price currently sits near $1.19, according to the latest supplied market snapshot. The $1.20 area therefore remains an immediate reference point. Reclaiming that level could restore short-term momentum toward higher resistance.
The exchange heatmap shows heavy trading activity across several major venues. Binance records approximately $2.96 million in volume within the displayed period. Upbit, Bitget, and OKX also register substantial activity.
Source: Coinglass
Netflow data presents a more cautious picture for the immediate setup.Binance has recorded about $719,000 of net inflows. Upbit is next with approximately $357,000, and Coinbase with nearly $177,000.
Other exchanges show a gradient in flow rather than uniform flow. Bitfinex and Bitget report approximately $106k and $92k respectively. Gate also records approximately $73,000 in positive netflow.
Derivatives activity remains considerably larger than spot turnover in the snapshot. Futures volume stands near $1.12 billion against roughly $227 million spot volume. Open interest also approaches $970 million, showing substantial derivatives positioning.
The combined data leaves the market at an important technical juncture. Holding $1.18 could preserve the developing recovery structure. If he loses that area, that could leave the lower support open, if he reclaims $1.20, he'd improve his immediate setup.
$1.36 and $1.42 are major targets for the big picture Elliott Wave analysis. A continuation of those moves would make the bull structure stronger. The $1.71 barrier would then remain the decisive test for continuation.
