The price of Sui (SUI) is showing resilience despite recent bearish pressure and a significant token unlock on April 1. The asset continues to hold above a crucial support zone between $2.10 and $2.20, keeping hopes alive for a potential bullish reversal if it can break through key resistance levels.
As of press time, SUI is trading at $2.31, maintaining its position above the support zone it first established on March 11, following a correction from its 2025 low of around $2.00. This level was reached after a steep decline from its all-time high of $5.35, recorded on January 6.
Technical Indicators Suggest Growing Bullish Momentum
Although SUI remains in a broader downtrend, certain technical indicators hint at a potential shift in sentiment:
- The token is currently trading below the 20-day Exponential Moving Average (EMA) at $2.41 and 50-day Simple Moving Average (SMA) at $2.67, both acting as resistance.
- The Relative Strength Index (RSI) stands at 45.09, indicating weak but improving momentum. The RSI-based moving average is slightly higher at 46.35, suggesting that buyers are gaining strength, though still below the 50-neutral line.
- Trading volume remains muted, signaling market uncertainty, but the consistent defense of support suggests accumulation at current levels.
Technical analysts are closely watching the $2.50–$2.55 zone as a crucial resistance area. A breakout above this level, particularly $2.52, could confirm a trend reversal, potentially pushing SUI toward the next resistance at $2.67 — which aligns with the 50-day SMA.
Inverse Head and Shoulders Pattern Supports Bullish Thesis
Adding to the optimism, technical analyst Ali Martinez recently highlighted the formation of an inverse head and shoulders pattern on SUI’s chart — a classic bullish reversal indicator. If the token can decisively clear the neckline at $2.52, it may trigger a short-term breakout, drawing in new buyers and increasing momentum.
Market Outlook
Despite the headwinds from the recent SUI token unlock, the price action has been notably stable. While bears maintain control in the broader timeframe, the lack of new lower lows and the repeated tests of the 20-day EMA suggest that bulls are beginning to reassert themselves.
If current support continues to hold and volume starts to increase near the breakout zone, SUI could set up for a potential recovery rally in the near term.
