SUI Defies Market Volatility, Holding Key Support as Analysts Target $5 Resistance

SUI is currently trading at $1.88, reflecting a 4.81% decline, yet it continues to hold critical support levels. Trading volume has decreased by 16.82% to $1.62 billion, indicating reduced buying pressure. Despite short-term pullbacks, the token demonstrates remarkable resilience with a 30.15% weekly gain—a performance that is capturing the attention of traders.

Analyst crypto Patel has identified a high-timeframe accumulation zone on the weekly charts, stemming from the corrective phase in 2024. The $1.50-$1.30 range has emerged as a bullish stronghold, with liquidity sweeps confirming the structural integrity. Patel notes SUI's 45% rebound from demand zones, reinforcing the asset's technical foundation.

Market observers are debating the feasibility of Patel's long-term target of $20, as channel structures suggest sustained upward momentum. The alignment of the equal value gap with demand zones presents a compelling case for accumulation at current levels.