SUI is currently trading at $2.0598 on perpetual futures, showing a modest gain of 1.02%. This slight uptick suggests a cautiously bullish sentiment in the short term.
Key levels to watch:
Support: $2.00, $1.95
Resistance: $2.10, $2.20
The $2.00 level has been acting as a strong support, with buyers stepping in consistently around this price point. The immediate challenge for SUI is to break and hold above the $2.10 resistance.
Short-term outlook:
A decisive move above $2.10 could open the path to test $2.20.
If bullish momentum builds, the next significant target would be $2.50.
Reaching the $2.50 target would represent a roughly 21% increase from current levels. This move would likely require a combination of positive project developments and overall market bullishness.
Volume will be crucial in confirming any significant price movements. An increase in trading volume accompanying a price surge would validate the uptrend.
For traders, the current consolidation around $2.05-$2.10 might offer entry opportunities, but it's wise to wait for a clear break above resistance before taking larger positions.
