TLDR
- Sui rebounds from key ascending support after sharp market correction.
- Analysts highlight symmetrical triangle structure shaping long-term price action.
- Network transactions remain steady near 4.9 million daily average.
- Sustaining above trendline could confirm renewed bullish structure ahead.
Sui (SUI) is attempting to reclaim its ascending support line after a steep correction. Analysts note that $SUI is trying to reclaim previous highs.
The analysts’ daily chart shows SUI rebounding from the long-term ascending yellow trendline, which has acted as support on multiple occasions. This structure, extending from the lows of September 2023 through early 2025, has consistently cushioned the asset during pullbacks. Each touch of this level has historically preceded short-term rallies, signaling its technical importance.
Currently, the Sui price is around $2.60, after dipping below $2.40 in recent sessions. The attempted recovery follows a sharp decline in October, when prices briefly breached the lower boundary before rebounding intraday. This move suggests traders are defending this structural zone, attempting to restore the broader ascending pattern that has supported the price since its 2023 lows.
The descending resistance, drawn from the February 2024 high near $6.00, connects successive lower peaks through mid-2025. Meanwhile, the ascending yellow support has continued rising, forming a long-term compression zone that now narrows toward late 2025.
This tightening structure reflects the market’s prolonged equilibrium phase. Historically, symmetrical triangles tend to precede strong directional moves once the price exits the pattern. However, for now, the focus remains on SUI’s ability to sustain above the rising trendline to confirm that buyers are regaining control.
A decisive break below this zone would expose lower supports near $2.00, while reclaiming the mid-range resistance at $3.50 could open room toward $4.80–$5.00. These levels correspond with previous reaction highs and Fibonacci retracement zones of the 2024–2025 downtrend. On the upside, a successful breakout above the upper white resistance line could potentially project toward $8.10, aligning with the target highlighted in the first chart.
Sui Price Channel Breakdown and Recovery Effort
Complementary analysis, more charts shows that SUI had been trading inside a descending parallel channel since mid-July 2025. The asset repeatedly tested the upper boundary around $3.50–$3.70, before sliding to the lower boundary in early October. The final decline brought SUI into the highlighted purple support zone near $2.30–$2.40, marking a key historical demand area from April and May 2025.
1-day SUI/USD Chart | Source: TradingView
This confluence between the lower channel support and the ascending trendline has made the recent reaction technically significant. The price bounced within this range, attempting to exit the falling channel to the upside. However, resistance remains firm at the channel’s upper band, suggesting that sustained momentum above $2.70–$2.80 will be required to confirm a structural shift in favor of bulls.
Sui On-chain Data Shows Network Stability
On-chain data from Artemis shows that Sui processed around 4.9 million daily transactions, marking a slight decline of 4.3% over the previous period. Transaction activity has remained steady through September and October, except for a brief spike above 20 million transactions recorded in late August.
Sui | On-chain Data | Source: Artemis
This anomaly suggests a temporary surge in network activity, likely related to a specific event or application launch, followed by normalization to the 4–6 million range.
Steady on-chain performance indicates that Sui’s core usage remains intact despite market volatility. Maintaining this baseline network throughput supports the argument for fundamental stability, even as price action consolidates within a tightening technical formation.
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