$SUI SUI/USDT Chart Analysis (6h timeframe)
Current Price: $2.1395
24h Change: -3.16%
24h High / Low: $2.2500 / $2.1298
Trend: Bearish rejection following a failed breakout above $2.40
Technical Indicators (summary):
Parabolic SAR has flipped above the price, signaling a bearish shift.
MACD shows a negative crossover with a growing red histogram, indicating bearish momentum.
Price is trading below both MA5 and MA10, confirming short-term weakness.
Volume is increasing on red candles, reflecting active selling pressure.
Price Action:
#SUI previously surged from $1.7174 to a local high at $2.4175 before facing significant rejection. Since then, it has been consistently forming lower highs, breaking below $2.20 support and confirming weakness in buyer conviction. The current structure shows sellers pushing price near the recent range low of $2.13–$2.12, where a bounce attempt might occur. However, the trend momentum has clearly shifted to the downside with rising volume on sell-offs.
Summary:
The bullish momentum that carried SUI to $2.4175 has reversed, and the 6h chart now favors bears. The combination of breakdown below moving averages and SAR flip confirms trend exhaustion. Momentum is skewed toward the downside, and any recovery attempts may face resistance near the $2.20–$2.25 zone.
Outlook:
Bullish scenario: If SUI manages to reclaim $2.22 and close above it with strength, a recovery toward $2.30–$2.35 could follow.
Bearish scenario: Continued rejection below $2.15 may drag price lower to $2.05 or even $1.95 in extension.
Conclusion:
SUI has entered a corrective phase after a failed rally attempt. With bearish signals aligned across indicators and structure, traders should remain cautious. A confirmed close below $2.12 could trigger further downside, while reclaiming $2.22 is required to shift the tone back to bullish.