SUI is currently trading at $3.71, consolidating in a higher range after its spring rally. The price has been trading between the mid-$3s and low-$4s, and the latest weekly candle made a small pullback inside the higher portion of the multi-month range.
The consolidation here is positive, and the market may be taking a break before the next possible leg higher. The moving averages offer clean support. The EMA-20, near $3.42, ascends and now serves as the initial dynamic support. Below it, EMA-50 at $2.97 and EMA-100 at $2.15 are upward sloping, forming a bullish configuration.
The price continues above the EMA-20, and the medium-term bias is constructive. A close below EMA-20 during the week will be an indicator of fading momentum and a possible return of mean reversion.
Bollinger Bands show SUI trading above the 20-week basis ($3.35), holding in the upper half of the bands. The upper band sits near $4.53, representing the first expansion target if the market breaks higher, while the lower band at $2.18 acts as the risk tail in case of a sell-off.
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There is also technical momentum supporting a positive bias. The RSI comes in at 54, again above the middle line, revealing initial pressure to the upside but not overbought. A persistent reading above 60 would confirm higher breakout potential, while a drop below 50 might keep SUI in its recent range.
The MACD lines are curving up around zero, and the histogram has begun to rebound, suggesting early-cycle momentum repair. Confirmation will come if the MACD line above its signal broadens its separation in the next couple of weeks.
The Ichimoku indicators confirm the bullish conditions. The Tenkan at $3.42 is higher than the Kijun at $3.08, and the prominent green cloud indicates Span A above Span B.
The price challenges the cloud’s upper surface, maintaining the direction of the easiest path higher. Further support lies around $3.08 (Kijun) and the EMA-50 at $2.97 if the volatility picks up.
Immediate resistance lies at $3.90–$4.00, followed by $4.25–$4.30, and then $4.50–$4.60. First supports are EMA-20 and the Bollinger basis ($3.42–$3.35), with deeper support at Kijun and EMA-50.
Swing traders can long the dip around $3.45–$3.35, with $3.08 serving as invalidation. Breakout trades need a weekly close through $4.00, and targets are $4.5–$4.6. The counter-trend fade trades are best saved for around the upper band if momentum tops out.
Analyst Rekt Capital noted that SUI broke out of its Macro Triangle and is now in the post-breakout retest area. The latest listing by Robinhood also provides access to US-based investors, which can lead to further upside movement.
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