but It is showing signs of stabilization after finding support at a key technical confluence area, giving bulls hope of a possible recovery. However, despite the strong support structure, broader market signals continue to point to continued downside risks, with concerns growing that the current trend may still favor a deeper corrective move.
The holding company is in a major penetration retest zone
In the face of declining market action, cryptocurrency strategist Scient said Highlight A critical juncture for SUI. After measuring withdrawalthe asset successfully tested and maintained support at the Value High (VAH) area of the previous daily trading range. This level is key, as it represents the original breakout point, indicating that the bulls have successfully defended their territory.
The 12-hour breakout block acts as a catalyst for the initial breakout, which now acts as a strong defensive barrier. In addition to this verification, a dense set of Exponential Moving Averages (EMAs) are converging in the same area. This combination creates a powerful set of indicators that promote price stability.
This alignment, which includes the VAH, the Breaker Block, and the EMA Block, creates three distinct layers of support at one critical price level. As long as these supports hold, market The structure remains flexible, suppressing downward momentum and favoring consolidation.
Given this defensive stance, the path of least resistance now points to the upside, targeting the 0.618-0.786 Fibonacci extension zone. If this accumulation phase continues to hold, this will remain the logical destination restoration.
SUI is still struggling to confirm a meaningful bottom
according to According to a report by MCO Global, SUI has yet to confirm market lows, raising concerns about the broader structural health of the asset. Mainstream technical analysis indicates that the current recovery phase may represent a completed wave 4. If this wave… building If this continues, the asset appears to be in a position to initiate a fifth downward wave, with technical targets in the 65 cents to 49 cents range expected.
On the technical front, immediate general resistance is concentrated within the $1.12 to $1.31 range. A decisive daily close above $1.31 is a key step to improve the outlook and support an extended wave 4 recovery, with upside targets potentially reaching between $1.44 and $2.08. Failure to clear this hurdle leaves the asset exposed, with immediate downside support levels at $0.97, $0.88 and $0.81.
Ultimately, the current price action increasingly reflects a classic five-wave decline from the May highs. Until the market shows a shift towards impulsive, high-conviction buying, technical evidence continues to favor lower prices over an immediate structural reversal.
