**SUI Shows Short-Term Strength Following Recent Dip**
Sui (SUI) is currently trading at $2.46, bouncing back from a recent low near $2.30. The token has gained 2.3% in the last 24 hours, though it remains down 8.4% over the past week. This rebound comes after a sharp drop, with the price now holding above key short-term support levels.
Volume has increased during the recent bounce, and the price is maintaining above the average cost basis at $2.3432. This level is now acting as an important reference point for buyers, indicating stability. On lower timeframes, the price structure demonstrates a steady upward move, supported by rising volume and consistent price action above significant intraday levels.
**Short-Term Trend Indicates Strength**
On the hourly chart, SUI has moved above its 5, 10, and 20-period moving averages, all of which are trending upward. This is a positive sign, suggesting that short-term price momentum favors the upside.
The Relative Strength Index (RSI) has shifted from oversold conditions into neutral territory, signaling that selling pressure is easing. Meanwhile, the MACD indicator has turned positive and confirmed a bullish crossover—a technical setup often regarded as an early sign of trend reversal, especially when accompanied by strong volume.
**Traders Eye Key $2.70 Resistance Zone**
The $2.70 level remains a crucial resistance zone for SUI. Price action has previously been rejected around this level, making it a focus area for traders watching for a breakout. A decisive move above $2.70 would suggest renewed strength and potential momentum.
On social media platform X, a trader named German commented, “SUI showing slight bullish momentum!! Lev. trade looks good here,” highlighting current optimism surrounding the price structure. The recent move above $2.45 is also drawing attention, with many market participants anticipating further gains should the $2.70 barrier be cleared.
**Long-Term Support Zone Revisited**
Looking at higher timeframes, SUI has re-entered the $1.80 to $2.40 range, which has historically functioned as an accumulation zone since late 2023. Past price behavior shows multiple rebounds from this area, reinforcing its significance.
CryptoPulse noted, “SUI has re-entered the accumulation zone. If momentum picks up later this Q4, SUI could rally back to retest the $4-$5 zone again.” Currently, the price is testing the upper boundary of this accumulation range. A clean break above this level could pave the way toward $3.00 and potentially higher, provided buying interest persists.
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**Summary**
– SUI is recovering from recent lows, trading at $2.46 with a 24-hour gain of 2.3%.
– The token has regained footing above short-term moving averages and key support levels.
– Momentum indicators like RSI and MACD signal easing selling pressure and potential bullish reversal.
– The $2.70 resistance is a critical breakout point closely monitored by traders.
– Long-term accumulation zone between $1.80 and $2.40 offers strong support, with potential upside targets at $3.00 to $3.50 and beyond.
Investors and traders should watch for a sustained move above $2.70 to confirm the next leg of SUI’s recovery.
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