SUI Technical Analysis
Sui is one of the blockchain projects that has recently seen increasing developer interest. The network attracts attention by offering both fast and low transaction cost. DeFi and NFT projects have started to use this infrastructure. These developments keep the interest in the SUI token alive. This growth trend should be followed before the technical analysis.
In the daily chart, the expected correction on SUI deepened to the 0.618 Fibonacci (1.28$) region and it received a quick reaction from there. This area is both a demand zone that worked in previous price memory and one of the classical reversal levels.
The place and speed of the reaction show that the selling pressure has weakened in this region. The price initially made a move towards the 0.5 fibo level at 1.69$ and entered a short-term balance search there.
The structure to follow in the short term is clear:
- As long as permanence is ensured above the 1.50 – 1.61 range, the upward trend is preserved.
- The main level that must be held above is 1.69$. If this region is exceeded, momentum strengthens.
Upward targets:
- First target: 2.22$
- Main target: 2.44$
These two regions are both Fibonacci resistances and areas where the price received high-volume reversal in the past.
In the downward scenario:
- Even if there is a return to the 1.28$ region, it cannot be said that the structure is broken in the major time frame.
- As long as there is no closing below this region, it is not correct to expect the downtrend to deepen.
In summary, SUI technically took off from the reversal zone and has the potential to head towards the 2.22 – 2.44$ range in the short term. In this process, movements above 1.69$ will determine the speed of the upward trend.
These analyses, which do not offer investment advice, focus on support and resistance levels that are thought to create short and medium term trading opportunities depending on market conditions. However, the responsibility of trading and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop loss for the positions shared.
