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Cryptocurrency News Articles
Sui (SUI) Has Seen a Remarkable Bullish Reversal
May 02, 2025 at 08:09 pm
Sui (SUI) has seen remarkable bullish.
As we enter May, the token trades around $3.46–$3.50, consolidating gains and struggling to break past key resistance.
Key Levels to Watch
Support Levels:
Minor support at $3.38
Stronger demand levels at $3.00 (psychological level) and $2.84
A decisive breakdown below $2.60-$2.45 may invalidate the bullish setup
Resistance Levels:
Immediate resistance at $3.75-$3.85
Prior consolidation at $3.80-$3.90
Round number resistance at $4.00
Relative Strength Index (RSI)
The RSI on the 4H chart is approaching the neutral 50 mark, which could indicate a potential reversal in price if it flips.
Moving Average Convergence Divergence (MACD)
The MACD is showing early bearish signs with a potential crossover below the signal line and declining histogram bars.
Bollinger Bands
SUI’s Bollinger Bands on the 4H timeframe are narrowing, indicating that volatility is compressing.
Mid-band acts as short-term support/resistance
A breakout above the upper band could trigger the next big leg up
Fibonaci Retracement
Using the Fibonacci retracement from the recent swing high of $3.87 to the minor dip low near $3.26, we get the following important levels:
0.236 Fib at $3.51
0.382 Fib at $3.38
0.5 Fib at $3.26
0.618 Fib at $3.15
This zone (0.382-0.618) is a common consolidation range before the next move up or down.
A successful flip of the 0.618 Fib into support would provide strong bullish confirmation.
On the downside, loss of 0.236 may lead to a revisit of the $3.20-$3.00 region.
Technical Analysis
On the daily chart, SUI has decisively broken out of a multi-month descending channel in mid-April.
This breakout rally pushed the token from under $2.50 to just shy of $4.00.
The move also reclaimed key support zones near $2.45, $2.80, and $3.00 — now acting as strong demand levels on any pullback.
The vertical rally, however, has stalled near the $3.80-$3.90 resistance zone, which aligns with prior consolidation and minor supply blocks.
The price action over the past few sessions shows small-bodied candles and minor wicks, indicating indecision.
As long as SUI holds above $3.00-$3.20, the trend remains bullish.
A daily candle close above $3.80 would open the door to a potential retest of $4.50-$4.80 in the coming weeks.
Zooming into the 4-hour chart, SUI shows a textbook parabolic advance, followed by a narrowing price range and repeated rejections around $3.75.
The token is forming a symmetrical triangle, a pattern often resolved with a continuation breakout — although volume and momentum currently appear to be weakening.
Immediate support lies around $3.38, followed by the $3.00 psychological level and $2.84 zone.
Any breakdown below these zones could invalidate the bullish setup and push SUI toward the $2.60-$2.40 range.
Meanwhile, resistance remains intact at $3.75-$3.85. A breakout from this range would signal trend continuation and likely accelerate price action toward $4.20 and beyond.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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