SUI Bounces at $2.55, But Heavy Sell Wall Looms

Key Insights:

• SUI price holds support near $2.55 but struggles to break resistance due to low buying volume.
• Higher lows on the weekly chart suggest structure remains valid despite strong overhead resistance.
• On-chain growth continues with rising TVL and new partnerships, but price awaits volume confirmation.

Sui (SUI) was trading near $2.68 after a weekly decline of over 20%. While the price remains above key support, weak momentum and strong resistance are limiting further upside. Traders are watching to see if the current range will hold or break in the coming sessions.

Short-Term Support Holds Near $2.55

The 4-hour chart shows SUI reacting around $2.55–$2.58, where it found support earlier in October. Each bounce from this level has struggled to gain follow-through. Price has failed to test nearby resistance zones between $2.90 and $3.40.

Volume is low, suggesting limited buyer interest. The Relative Strength Index (RSI) sits near 40, pointing to a weak recovery after a dip into oversold territory. The lack of momentum is keeping the market in a tight range.

Weekly Chart Shows Structure Holding

On the higher time frame, SUI continues to form higher lows. It is still trading above the support zone near $2.63, which was the base for the previous breakout in late 2024. This area has held through multiple pullbacks.

Michaël van de Poppe commented that the pattern is still intact. He noted,“The structure hasn’t changed on $SUI,” referencing the ongoing higher lows as a sign that the trend is not broken. 

Resistance around $4.20 has been tested several times, and the repeated attempts suggest that sellers may be weakening.

Volume Still Lacking for Breakout

According to Umair Crypto, the price is being rejected before it can test resistance. He wrote, “What’s needed now is strong volume.” Without that, the price is not able to build enough pressure for a move higher.

SUI remains stuck between support and overhead resistance. As long as volume remains light, the current sideways movement favors sellers. A drop below $2.58 would shift focus to lower levels.

Network Developments Continue

Outside of price, the Sui network is expanding. Grayscale has created trusts tied to projects on the chain. Stablecoin and Bitcoin value locked on Sui has increased in recent months.

Bluefin DEX, which runs on the Sui network, hit record volumes in October. A new partnership with Figure Technology is also bringing the YLDS token to Sui. The token is backed by short-term Treasurys and repo agreements. These changes suggest that activity is growing, even as price action remains limited.