After trading within a tight range, the SUI price volatility has surged as it has been sustaining above the $1 support despite the selling pressure. With this, the token is showing signs of strength after transforming the support into a strong base. Following months of persistent downside pressure, the price is now attempting to establish a higher base while defending a long-term ascending trendline.
The key question now is whether SUI can sustain this recovery and trigger a larger ‘V-shaped’ reversal toward the $1.50 region and beyond.
The weekly chart of SUI highlights a crucial recovery attempt after the token defended its long-term ascending support trendline near the $0.90 region. The chart also shows a historically important resistance zone near $2.30, which previously acted as a major support area before the breakdown earlier this year.
The price has now reclaimed the mid-range Bollinger Band resistance while forming a potential rounded bottom structure following months of compression. Meanwhile, Open Interest has started rising steadily again, signaling renewed trader participation as bullish sentiment gradually improves. Historically, recovering this level often signals the beginning of a broader momentum reversal, especially when accompanied by rising trading activity and improving market structure.
Another bullish signal comes from the formation of a rounded recovery structure near the recent lows. The latest breakout above the short-term consolidation range indicates selling pressure may finally be weakening after the prolonged correction phase.
However, despite the improving structure, the broader recovery remains incomplete until SUI breaks above the major resistance cluster near $2.30. This zone represents one of the strongest overhead supply areas and could determine the next price action. For now, the SUI price is building momentum for a potential V-shaped recovery, and a push to $1.50 could validate the move.
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