Bulls Face $3.50 Resistance As Structure Stabilize

Bulls Face $3.50 Resistance As Structure Stabilizes Near VWAP

SUI’s price action on the daily chart shows consolidation just below the $3.50 resistance level, which aligns with the VWAP and a previous structure flip zone. This area had a support role in the past but today has become backstopping and bulls need it back to move on.  

The recent bounce around the short-term EMA cluster highlights a stabilization attempt to stabilize. However, the traction remains muted without a clean break above $3.50. According to CryptoPulse, an analyst on X platform, this area presents a potential accumulation zone, but only a confirmed breakout above $3.50 would validate a short-term bullish reversal. 

The current structure shows lower highs forming after rejection at $5.25. This means bulls are still regrouping beneath a critical ceiling. Breaking $3.50 would clear the way to $4.00 and eventually $5.00. Until then,  the price movement remains neutral, reflecting indecision between fading traction and growing ecosystem strength.

Conclusively, SUI continues to consolidate below a key resistance zone, with strong fundamentals supporting its long-term potential. However, the negative sentiment level, a drop in open interest, and inability to reclaim $3.50 points to near-term caution. A breakout could shift price direction, but until then, the market remains in a wait-and-see phase