SUI/USD Breaks Consolidation As Buyers Seeks Expansion

SUI Price Analysis – October 2

SUI/USDT has executed a notable breakout from its recent range, signaling a decisive shift toward the upside after weeks of lateral consolidation. The price action suggests that bulls are gaining confidence, with momentum indicators confirming the strength of the current rally. Traders are now focused on key overhead supply zones that could cap the move.

SUI Key Levels

Support Levels: $3.2137, $2.7684, $2.2974
Resistance Levels: $4.2449, $5.0000

SUI/USD Long-Term Trend: Bullish (Daily Chart)

On the daily timeframe, SUI/USDT has been trading in a broad, high-level accumulation range since its significant drop earlier in the year. The market structure shows a pattern of higher lows and lower highs, trapping the price between the $2.7684 support and the major $4.2449 resistance. The recent price activity shows the market bouncing strongly off the intermediate $3.2137 support level, confirming it as a strong demand zone for bulls.

The market appears to have completed a correction phase during September and is now starting an upward impulse wave. The overall market sentiment is becoming bullish as the asset shows resilience against deeper pullbacks.

The RSI (14) sits at 54.70, crossing above the neutral 50 mark. This upward shift is a crucial signal for traders, indicating that buying pressure is starting to outweigh selling pressure on the macro scale, pushing the market into a moderately bullish bias.

SUI/USDT Short-Term Trend: Bullish (Daily Chart)

On the 4-hour chart, SUI/USDT is currently trading at $3.5737, representing a +0.52% change in the intraday session. The market is in an active short-term uptrend, characterized by strong green candles and a clear break above the horizontal consolidation that defined late September.

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