TLDR:
- SUI price rejected at $3.5 resistance, now tests $2.775 June close for support.
- Price action mirrors Bitcoin, suggesting short-term neutral consolidation.
- Volume dropped after failed breakout, signaling buyer hesitation.
- Market expects sideways action until clear momentum shift emerges.
SUI has seen sharp shifts in price movement as traders look for clues about its next direction. After bouncing to around $3.5, the token quickly pulled back, failing to hold above that level.
Market watchers are now closely tracking support near $2.775, where the June monthly close lies.
The broader setup reflects the same slow, cautious movement also seen in Bitcoin, with limited activity expected in the near term. Most traders expect the market to remain steady, with any major move likely postponed until the following week.
SUI Price Bounce Rejected at Resistance Near $3.5
The recent SUI price action showed strength early this week, briefly hitting the $3.5 range before quickly reversing course.
According to Zen, a crypto market observer, the move marked a rejection at a critical resistance level. He pointed out that SUI mirrored Bitcoin’s behavior and could revisit the $2.775 level if support holds.
$SUI did bounce to ~3.5 and then dumped lower. Now looks good again. Same as with BTC there might be a drop back to June close at 2.775 and if find support there, will continue higher to ~3.3
But that is a Day chart, so no immediate expectations. Bullish or bearish, most… https://t.co/pIf9Wr9Yqz pic.twitter.com/iniBCKzOoS
— Zen (@WiseAnalyze) July 4, 2025
The chart reflects that after testing the $3.5 zone, which had earlier served as a breakdown point, the price failed to sustain momentum. Traders saw this as a failed breakout, often followed by short-term bearish continuation. This zone now serves as the main resistance to break before any upward trend resumes.
Zen noted that $2.775 marks the June closing price and may act as a solid support level in the short term. If SUI can bounce from this zone, the next target could be a move back toward $3.3. However, since this setup plays out on the daily chart, no quick moves are expected.
The overall structure still appears neutral, with neither bulls nor bears showing strong control. As a result, the token might consolidate around current levels while awaiting stronger momentum.
Traders are watching closely for either a support bounce or another test of lower ranges.
SUI Market Activity Suggests Caution
Trading volume spiked during the $3.5 test, signaling strong activity around that level. But once rejected, volume quickly faded, suggesting limited follow-through from buyers.
The market remains cautious, especially with no clear indicators of a breakout or breakdown in sight.
Zen mentioned that price action will likely remain steady, with any meaningful direction forming after this period of consolidation. The low-volatility environment suggests that investors are waiting for more clarity before taking bigger positions.
As per CoinGecko, SUI is trading at $2.91, showing a 3.59% decline in the last 24 hours. Over the past week, the token has gained over 10%, reflecting growing interest. Despite the daily dip, traders remain focused on how SUI reacts around $2.775, which could shape the next leg of movement.
Until then, the chart remains neutral, and traders expect no sharp spikes or dips. The broader crypto market’s sentiment could influence SUI’s next move, but for now, all eyes remain on support.
The post SUI Price Pulls Back from $3.5 as Traders Watch $2.775 Support for Next Move appeared first on Blockonomi.
Source: https://blockonomi.com/sui-price-pulls-back-from-3-5-as-traders-watch-2-775-support-for-next-move/