Sui (SUI) Has Seen a Remarkable Bullish Reversal

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.