Tag: weekly chart shows structure

SUI Bounces at $2.55, But Heavy Sell Wall Looms

The post SUI Bounces at $2. 55, But Heavy Sell Wall Looms appeared com. Key Insights: SUI price holds support near $2. 55 but struggles to break resistance due to low buying volume. Higher lows on the weekly chart suggest structure remains valid despite strong overhead resistance. On-chain growth continues with rising TVL and new partnerships, but price awaits volume confirmation. SUI Bounces at $2. 55, But Heavy Sell Wall Looms Sui (SUI) was trading near $2. 68 after a weekly decline of over 20%. While the price remains above key support, weak momentum and strong resistance are limiting further upside. Traders are watching to see if the current range will hold or break in the coming sessions. Short-Term Support Holds Near $2. 55 The 4-hour chart shows SUI reacting around $2. 55-$2. 58, where it found support earlier in October. Each bounce from this level has struggled to gain follow-through. Price has failed to test nearby resistance zones between $2. 90 and $3. 40. Volume is low, suggesting limited buyer interest. The Relative Strength Index (RSI) sits near 40, pointing to a weak recovery after a dip into oversold territory. The lack of momentum is keeping the market in a tight range. Weekly Chart Shows Structure Holding On the higher time frame, SUI continues to form higher lows. It is still trading above the support zone near $2. 63, which was the base for the previous breakout in late 2024. This area has held through multiple pullbacks. Michaël van de Poppe commented that the pattern is still intact. He noted,“The structure hasn’t changed on UI,” referencing the ongoing higher lows as a sign that the trend is not broken. Resistance around $4. 20 has been tested several times, and the repeated attempts suggest that sellers may be weakening. He.