- SUI is consolidating near key support and looks poised for one final bullish push toward $4.59–$4.98.
- However, strong resistance around $3.96 to $5.32 could halt the rally and trigger a pullback if not broken.
The SUI price has been quietly building momentum, consolidating for nearly two weeks, and technical charts suggest it’s gearing up for a final bullish push. After a steep 150% rally since its April lows, traders are asking: can the bulls sustain the momentum, or is a resistance wall about to halt the rally?
Technical Overview: Healthy Consolidation Signals More Upside
SUI’s price action recently completed a complex W-X-Y-X-Z corrective pattern, a structure often seen before strong reversals. After finding support near $1.74, SUI surged dramatically, forming a classic five-wave impulsive pattern. The 4-hour chart shows this correction ended and now hints at an ongoing wave (v)—the last leg of the rally.
The price currently consolidates near $3.83, which aligns with the important 61.8% Fibonacci retracement level of the recent upward move. This level, once resistance, has now turned into support, marking a healthy pause rather than a reversal. The Relative Strength Index (RSI) remains neutral to strong, indicating momentum is intact without signs of bearish exhaustion.
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Resistance Levels and Potential Targets
The next resistance to watch lies around the 78.6% Fibonacci retracement near $4.55, and an even stronger barrier near $5.32, which is the projected peak for wave (v). Breaking above these levels could unlock significant gains.
On the shorter 1-hour chart, SUI’s price appears to have finished a triangle-shaped consolidation—wave (iv)—around $3.60, a key Fibonacci support level. This signals that the market is preparing for the final wave up.
What Could Go Wrong?
If SUI fails to break above the immediate resistance at $3.96, it risks invalidating the bullish outlook in the short term. Such a failure could trigger a retracement to test support zones around $3.53 or even $3.10.
Bulls Poised, but Vigilance Needed
Overall, the technical picture favors one more leg up for SUI, potentially pushing prices toward the $4.59–$4.98 zone. However, traders should stay alert to signs of resistance and be ready for possible pullbacks. A clean completion of the five-wave pattern and strong RSI confirmation would solidify the path to higher prices, but a failure to break key resistance could shift momentum quickly.