SUI Price Prediction: Why the $3.2 Support Is Crucial for a New High
Analysis of last month’s liquidation heatmap reveals a significant liquidity cluster at $4, which could attract SUI’s price upward. On the downside, the $3.2 zone represents a key support level that bulls are likely to defend in case of a pullback. SUI Consolidates Below Its All-Time High The market structure on the daily chart remains bullish, with two recent higher lows formed at $2.82 and later at $2.97. A daily session closing below $2.97 could signal a breakdown in the bullish structure and a potential deeper decline. The RSI sits at 60, remaining above the neutral 50 level, indicating a continued bullish trend.Over the past 10 days, the price has traded within a range of $3.1 to $3.94, with the midpoint at $3.52 acting as resistance. This resistance has now been breached, and bulls are targeting the range highs and a potential new all-time high.
Volume and Market Activity Indicators OBV (On-Balance Volume) shows a steady upward trend, reflecting strong buying pressure.Conversely, the MFI (Money Flow Index) has slightly declined over the past 10 days, signaling a loss of strength in the consolidation. However, further gains are likely if SUI holds above the $3.52 level.
Key Liquidity Levels and Expectations The liquidation heatmap highlights: A liquidity cluster at $4, which could pull the price upward.Another cluster at $3.17, just above recent lows. It is likely that the price will first gather liquidity at lower levels (around $3.2) before attempting another upward move. Typically, a breakout from a price range involves a brief dip below key support to equalize liquidity before heading higher.
Recommendations for Traders Traders should prepare for a potential pullback to $3.5 and $3.2 in the coming days. These zones could provide ideal entry points if the market confirms a bullish trend. Despite short-term volatility, the long-term outlook for SUI remains positive.
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