$SUI (Sui) Technical Analysis: Navigating a Corrective Phase 📉
Entry Zone: $0.8000 – $0.8350
Bullish Above: $0.9200
Target 1 (TP1): $0.9500
Target 2 (TP2): $1.0500
Target 3 (TP3): $1.1500
Stop Loss (SL): $0.7800
$SUI is currently in a clear corrective trend on the 4H chart, trading at $0.8585 with a 3.07% intraday decline. The price action shows a significant retreat from its local peak of $0.9758, followed by a series of bearish candles that recently spiked down to test a 24h low of $0.8347. This area is proving to be a critical structural floor that bulls are currently attempting to defend.
The 24h trading volume is moderate at 32.23M SUI (approx. $28.13M USDT), suggesting that while selling pressure is present, it hasn't reached capitulation levels yet. For a trend reversal to materialize, $SUI needs to stabilize here and establish a higher low. A decisive breakout above the $0.9000 psychological barrier would be the first sign that the corrective phase is exhausting and that a move back toward the $0.9700+ resistance is possible.