Sui Correction Deepens After Rejection from $4.20 Resistance Level

SUI/USDT Price Analysis – July 23

Sui market has entered a significant corrective phase after a strong, month-long rally was decisively halted at a major resistance level. While the recovery from the June lows was impressive, sellers have re-emerged with force at the top of the long-term range, reversing the price action. Market indicators now confirm that momentum has shifted in favor of the bears, who are pushing the price into a clear short-term downtrend.

Sui Key Levels

Support Levels: $3.2130, $2.7980
Resistance Levels: $4.2460, $4.5000

Sui shows a market that is broadly defined by a large trading range. The most recent major move was a powerful rally that began in late June from the lows around $2.29, carrying the price all the way up to the range high and key resistance at $4.2469. This level proved to be a formidable barrier, and the price has since been in a sharp retreat. The crypto market is positioned at $3.6720, the asset is erasing a portion of its recent gains. This rejection from the upper boundary of the range is a significant technical event, suggesting that the broader market remains in a state of equilibrium.

The next major support level to watch is $3.2137, which will be a critical test for bulls hoping to stop the decline.
The indicators on this chart clearly show the shift from bullish to corrective momentum. The price reached the upper Bollinger Band and was strongly rejected, a classic sign of resistance in a ranging market. The Money Flow indicator, which was previously in overbought territory, has sharply turned down. Currently at -49.35, its downward trajectory confirms that buying pressure has waned and sellers are now the dominant force.

Sui Short-Term Trend: Bearish (4-Hour Chart)

Following topping out near $4.2469, the price has carved out a distinct pattern of lower highs and lower lows. Trading at $3.6706 for a loss of -0.42%, SUI has decisively broken and remains below the 20-period moving average (middle Bollinger Band), confirming strong bearish control.

Sellers are firmly in the driver’s seat on this timeframe. The price is currently “walking the lower Bollinger Band,” a technical pattern that often indicates a strong, sustained downtrend. Any attempts by buyers to rally the price have been shallow and quickly sold into, reinforcing the bearish sentiment. The short-term indicators support the ongoing downtrend.

Make money without lifting your fingers: Start using a world-class auto trading solution 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.