Sui (SUI) staged a powerful rebound after the December 1 sell-off, carving out a higher low and then rallying aggressively into the $1.80 zone.
The chart shows a clear upward surge on December 2–3, followed by consolidation as the price now grinds below major resistance. Despite the strong recovery, momentum has cooled, and traders are watching whether SUI can reclaim the $1.81 region, a key level that could determine whether this move extends toward $2 or fades into another pullback.
The TradingView chart highlights a steep vertical rally from sub-$1.50 levels, followed by several attempts to stabilize above $1.65–$1.70. Sellers remain active near the local highs, while buyers defend higher lows.
This aligns with broader market signals showing a mixed picture: SUI trades at $1.63, sentiment is bearish, and volatility sits at a very high 15%. Trend indicators remain weak, with the 50-day SMA at $2.05 and the 200-day SMA at $2.91, both notably above spot pricing.
Analyst View: Key Resistance at $1.81
According to DaanCrypto, SUI’s structure remains constructive after breaking its previous downtrend and retracing the early-December flush. He notes that the price is now consolidating directly against the 4H 200MA and 200EMA, a zone that has repeatedly acted as a ceiling.
If SUI can break above $1.81, he expects continuation toward the $2+ region, supported by the new higher low and improving short-term demand. Until that breakout occurs, however, the risk of rejection remains high.
ETF Catalyst Adds Fuel But Also Volatility
Adding to the excitement, SUI’s 2x leveraged ETF has officially gone live on Nasdaq, giving traders a new instrument to speculate on price swings. Leveraged ETFs typically amplify both gains and losses, often increasing short-term volatility, something SUI traders are already feeling.
With fear levels elevated (Fear & Greed Index at 28 – Fear) and only 13 green days out of the past 30, the market tone remains cautious. But for momentum traders, the combination of a fresh higher low and a major resistance test creates a clean technical setup.
What Comes Next?
A decisive breakout above $1.81 would put SUI back in a strong position to challenge the $2 zone, where liquidity and historical reactions suggest heavy activity. Failure to reclaim the level likely sends price back to retest the $1.55–$1.60 support region, especially if broader market sentiment weakens.
For now, SUI is at a technical crossroads — strong enough to attract momentum traders, but still pinned under trend-defining moving averages. A breakout or rejection over the coming sessions will likely set the tone for the next major move.