TLDR
- SUI price showing TD Sequential sell signal, indicating possible short-term correction
- Support levels at $3.00-$3.50 considered crucial for maintaining bullish outlook
- Multiple technical analyses suggest long-term targets between $5 and $20 if support holds
- Current trading around $3.84, up 1.38% in 24 hours with mixed investor sentiment
- Stablecoin supply on Sui network has surged past $1 billion, indicating ecosystem growth
The Sui cryptocurrency has been capturing attention in recent weeks as traders debate whether it’s poised for a significant rally or due for a short-term correction. Technical indicators suggest both scenarios might play out in sequence, with a potential pullback preceding what could be a substantial upward move.
SUI is currently trading at approximately $3.84, showing a 1.38% increase over the past 24 hours. The token has found strong support near the $3.75 level after a period of volatility.
Market analysts have identified several key technical signals that may forecast SUI’s price movement in the coming days and weeks. Notably, analyst Ali Martinez spotted a TD Sequential sell signal on the 3-day chart, which typically indicates the conclusion of an uptrend.
$SUI looks ready to pull back with the TD Sequential indicator presenting a sell signal on the 3-day chart! pic.twitter.com/AGJ8AomTCJ
— Ali (@ali_charts) May 18, 2025
This sell signal suggests that SUI might experience a pullback to the $3.00 to $3.50 support zone. Historically, this range has served as a critical area for bulls, potentially providing a foundation for the next leg up.
Despite the possibility of a short-term decline, the long-term outlook for SUI remains largely positive according to multiple analysts. Technical patterns including ascending triangles on the 4-hour chart suggest an upward trajectory.
Bullish Patterns Emerge
If SUI can overcome resistance at $4.50, it could quickly target $4.80. Breaking above this level would confirm a bullish trend reversal that might eventually push the price toward the $10 mark in the weeks ahead.
$SUI is going to +$10 sooner than u think
— Crypto GEMs 📈🚀 (@cryptogems555) May 17, 2025
Adding to the optimistic outlook, some analysts have noted that SUI has already surged approximately 130% from entry points around $2.00, recently touching $4.29 before consolidating.
Long-term price targets for SUI range from $5 to as high as $20, contingent on maintaining support above the $3.00 region. This support level appears crucial for attracting additional investor interest and sustaining upward momentum.
However, market sentiment indicators present a mixed picture. The Relative Strength Index (RSI) currently sits at 41.47, indicating relatively weak bullish momentum. The Moving Average Convergence Divergence (MACD) remains in bearish territory, suggesting that sellers have not fully exited the market.
Interestingly, the SUI Long/Short Ratio reveals a slight lean toward bearish positioning. According to Coinglass data, the ratio stands at 0.9161, with more traders holding short positions (52.19%) than long positions (47.81%). This suggests that a portion of the market anticipates a near-term decline.
Another technical development worth noting is the shrinking Bollinger Band range, typically a sign of low volatility that often precedes a major price move. As one analyst observed, “Bulls need volume and confirmation to rally.” Without these elements, the current squeeze could result in further downside rather than an upward breakout.
On-Chain Developments Support Optimism
Beyond price action, on-chain developments for the Sui network point to growing adoption. The stablecoin supply on Sui has exceeded $1 billion, representing a 218% increase over the past six months. This surge in liquidity highlights expanding activity within the Sui DeFi ecosystem.
Stablecoins including USDT, USDC, FDUSD, and USDY are powering decentralized applications and trading protocols on the Sui blockchain. The growth in stablecoin availability suggests increasing user confidence in the platform’s scalability and utility.
Recent integrations, such as the BitVM bridge and the planned launch of Peg-BTC (YBTC), are expanding Bitcoin DeFi capabilities on the Sui network, potentially adding to the token’s value proposition.
Funding rates also hint at underlying bullish sentiment. Current Coinglass funding rates remain positive, indicating that traders are predominantly taking long positions despite short-term caution.
For SUI to achieve the much-discussed $10 price target, it must first break through immediate resistance at $4.80 and maintain support above $3.00. These key levels will play a critical role in confirming trend reversals and attracting new buyers.
While the technical outlook generally leans bullish for the medium to long term, traders should remain mindful of key support levels. A break below the $3.50-$3.40 zone could trigger more substantial selling pressure.
The next major move for SUI price could be imminent as it continues to consolidate within its current range.
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