SUI has managed to stay above its key support zone between $2.10 and $2.20, despite a recent token unlock on April 1. Currently, SUI is trading at $2.31, maintaining stability after hitting a low of $2 on March 11.
The price remains in a downtrend, trading below the 20-day EMA ($2.41) and 50-day SMA ($2.67). While the 20-day EMA acts as immediate resistance, SUI has tested this level multiple times. The RSI sits at 45.09, suggesting weak but improving momentum. However, the market remains uncertain as no major volume spikes have occurred.
Can SUI Break Resistance and Reverse the Trend?
Despite the ongoing downtrend, SUI’s price action looks mildly bullish. The coin has held support for several weeks and has avoided making new lows since March 11. Buyers are challenging resistance at $2.50–$2.55, and a breakout above this range could confirm a trend reversal.
Technical analyst Ali Martinez highlights an inverse head and shoulders pattern, a bullish signal. If SUI breaks past $2.52, it may trigger further upside momentum, with the next major resistance at $2.67 (50-day SMA).