SUI Holds Ground at $1.85 as Technicals Signal Potential Reversal

SUI has shown notable resilience following recent volatility, with its price stabilizing NEAR the $1.85 mark. The asset initially faced selling pressure after a reported temporary network disruption, but trader attention swiftly pivoted to key technical levels, fueling a rebound.

The coin found solid footing after bouncing from a crucial support zone between $1.58 and $1.60—a price range that has provided a floor since December 2023. Although sui continues to trade below its 200-day moving average at $2.72, indicating underlying bearish sentiment, it is now challenging its 50-day moving average, a critical juncture for potential trend shifts.

Momentum indicators, including the Relative Strength Index (RSI), point to building bullish momentum. The RSI's approach toward overbought territory suggests the possibility of further upside, though a confirmed recovery will require sustained buying volume and conviction from the FSA (Fellow SUI Advocates).