SUI Defends $1.38 Support, Analysts Eye Potential Breakout Zone

SUI is showing resilience as buyers defend the critical $1.38 support level, with market dynamics suggesting a potential upside breakout. The token's current price action indicates waning selling pressure, setting the stage for a possible relief rally if key resistance levels are breached.

Trading at $1.37 with a $710 million 24-hour volume, SUI's 1.55% dip reflects a temporary equilibrium between buyers and sellers. Analysts identify the $1.44-$1.46 range as the crucial breakout zone that could trigger upward momentum.

BitGuru notes strong demand between $1.38-$1.40, evidenced by rapid price recovery following liquidity sweeps. The analyst warns that failure to maintain current support may invite renewed selling pressure.

GainMuse observes emerging reversal patterns in SUI's price chart, suggesting potential for a trend change. Market participants await confirmation of either a breakout or a breakdown from the current consolidation range.