SUI Price Setup Points to Breakout as Bulls Target a Fresh Upward Trend

SUI trades near $0.96 as bulls eye a breakout above $1.12 resistance, with rising long positions and steady short-term gains.

SUI trades near $0.9674 after a 4.13% daily move on the SUI/USDT chart. Short-term data shows buyer interest, with gains across four-hour, 24-hour, seven-day, and 30-day periods. 

However, the price remains close to a key support area, and bulls need a clear break above $1.12 resistance to confirm a stronger upward trend.

SUI Breakout Call Gains Market Attention

A market analyst said SUI may be close to a major breakout. The comment focused on the SUI/USDT eight-hour chart and recent price movement.

“$SUI is on the verge of a massive breakout,” the trader said. The trader added that the chart shows signs of a possible upward trend.

The post also said the setup requirements are starting to fall into place. Still, the price must confirm the move with a strong close above resistance.

At the time of the chart, SUI/USDT traded near $0.9674. The token was up about 4.13% in the shown daily session.

SUI Price Holds Near Key Support Zone

SUI is trading close to the $0.90 to $1.12 support range. This area has acted as a base during past market moves.

The nearest key level is the Fibonacci point at $1.1264. A daily close above this level could show stronger buyer control.

If SUI clears $1.12, traders may watch the $1.72 level next. That area matches the 0.786 Fibonacci zone on the chart.

However, a move below $0.90 would weaken the current setup. It could also bring fresh selling pressure into the market.

The MACD is close to the zero line, which shows slower bearish momentum. The MACD line is slightly above the signal line.

However, the gap is still small, and confirmation remains limited. A wider move above zero could support a stronger recovery.

Read Also:

Short-Term Gains Support Bulls, But Risks Remain

SUI has gained 0.24% in four hours and 3.68% in 24 hours. It is also up 3.30% over seven days.

The token has gained 10.89% over 30 days. This shows a short-term rebound after earlier market weakness.

However, longer time frames still show pressure. SUI is down 12.72% over 90 days and 52.48% over 180 days.

Year to date, SUI is down 31.10%. It is also down 70.52% over one year, based on the shown data.

Long and short data shows traders are leaning bullish. Binance SUI/USDT accounts show a ratio of 1.6021.

OKX SUI accounts show a ratio of 1.7. Binance top trader accounts show a higher ratio of 1.9087.

Binance top trader positions also favor longs, with a ratio of 1.4199. Even so, heavy long positioning can raise liquidation risk.

For now, bulls need SUI to hold above support and reclaim $1.12. A close above that level could place $1.72 back in focus.

The post SUI Price Setup Points to Breakout as Bulls Target a Fresh Upward Trend appeared first on Live Bitcoin News.