Market Analysis: SUI's Price Action and Support Reclaim
SUI has regained footing above the $2.30 zone, signaling renewed stability following a brief deviation below its horizontal trading channel. The move suggests that the earlier drop was a temporary liquidity sweep rather than a sustained bearish continuation.
According to market observers, the recovery back into the range reflects improving buyer participation around the demand zone. Price action on the 4-hour chart shows SUI trading near $2.36, consolidating above its reclaimed support as short-term momentum shifts toward cautious optimism.
Alpha Crypto Signal (@alphacryptosign) noted that as long as SUI holds above the lower boundary, the bias remains tilted toward the upside. The analyst added that this recovery signals resilience, with traders eyeing the mid-channel area around $2.50 as the next technical objective.
Market Structure and Volume Dynamics
The lower boundary near $2.30 continues to act as a strong demand area, repeatedly absorbing selling pressure during recent sessions. Each bounce from this zone reinforces its role as a key accumulation region. The recent claim supports the view that large participants may have absorbed liquidity before allowing the price to revert upward.
Volume dynamics align with this interpretation. The acquisition activity rebounded sharply at the appropriate corrective action at $2.25, and this implies that the short-term players were keen at accumulation. One more increase in volume will ensure the stability of the structure and may yield to the rise of the price to the resistance zone of 2.50-2.70.
The moving averages are also evidence of early stabilization. The 9-period EMA has begun to plateau near the present price but the 50 period SMA has been hovering around the price of 2.50. Closing above this on a long-term basis would reinforce the short-term bullish formation and would probably draw more trading volumes.
Sentiment and Derivatives Data
Recent derivatives data reinforces growing optimism in the SUI market. On Binance, the long/short ratio stands at 2.17 among all traders, while top trader positions reveal an even stronger bullish inclination at 2.37. OKX records a similar 2.06 ratio, suggesting broad agreement among high-volume traders expecting a near-term rebound.
Liquidation trends also show improving market stability. Over the last few sessions, total liquidations remain modest at roughly $26,000, with short positions accounting for the majority. This skew toward short liquidations reflects the gradual price recovery favoring bullish participants.
With this renewed strength, caution remains. A failure to hold above the $2.30 support might mean downside pressure toward $2.20 or lower. However, if the area that has been reclaimed continues to be defended with average trade volume, then market structure would remain constructive, and buyers would maintain their short-term dominance.