The price has been moving within a multi-month upward channel. This is an indication of continued ecosystem activity and a strong technical base.
SUI is trading within the support range of 2.10-1.80 historically, which has drawn liquidity and a high chance of rebounding, because of previous performance and due to activities on the chain.
SUI has returned to the critical support zone of $2.10 to 1.80, which has been shown to attract liquidity and initiate sharp price rises.
The price has been moving within a multi-month upward channel. This is an indication of continued ecosystem activity and a strong technical base.
Market trends suggest that this region may be a turning point in future course changes.
Source- X
As per the chart, SUI has continued to follow an upward trend since the middle of the year 2024; a recent pushback off of 4.83 has settled around 2.17.
It is a re-accumulation region where the liquidity has historically concentrated to allow rebounds in prices.
Trading volume remains constant, supporting a framework that has greater lows in the lower part of the channel. The analysts indicate that previous liquidity grabs in this zone have yielded high returns.
The short-term technical indicators show resistance and liquidity levels ranging between $2.51 and $2.63. The point of control (POC) at 2.63 is persistent in price rejection.
It pays close attention to the internal range and price action in the range and seeks the occurrence of a breakout; a rebound to resistance around $4.83 can be used to create additional upside.
The dynamic of price movements around the POC zone can help understand the near-term position of SUI.
DeFiLlama inferred that SUI has a total value locked (TVL) of 1.737 billion. The bridged liquidity is nearly equal, which is a good sign of cross-chain activity.
The ecosystem has a stable liquidity, partly due to the approximate capitalization of the stablecoin at around $933millions, which promotes the DeFi on the Sui protocols.
Active user participation and continuous derivative trading contribute to the daily chain fee and revenues of the app.
Over the past 24 hours, SUI market indicators have reported a perpetual futures volume of 138 million dollars. They have also reported a decentralized exchange volume of 377 million dollars.
Net inflows of $1.37 million, along with active options and futures flows, reflect capital rotations in the ecosystem.
These reasons drive market observers to focus on the $2.10–$1.80 support level in hopes of a liquidity-driven recovery.
The post SUI Coin News: SUI Returns to Crucial $2.10–$1.80 Zone – Will Liquidity Spark a Rally? appeared first on Live Bitcoin News.
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