Sui [SUI] has rallied 15.9% in the past 24 hours, at press time, making it the top-performing crypto asset in the top 20 assets by market capitalization on CoinMarketCap.
Towards the end of 2025, AMBCrypto reported that the monthly Sui unlock of 1.15% of the released supply could add selling pressure that the market might not be able to absorb. This trend of selling pressure and a lack of demand has turned around remarkably.
On the 1st of January, SUI dipped to a low of $1.39 before rallying. In just over five days, the token has rallied 39.95% to reach $1.95. In doing so, it burst out above the $1.30-$1.68 range formation highlighted in another report.
Has the long-term trend of Sui flipped bullishly?
The 1-day chart showed that the internal structure was flipped bullishly when the price breached the $1.51 local swing high. While encouraging for short-term bulls, the swing structure remained bearish. A move past $2.23 is required to change this.
The $1.95-$2.16 region was a supply zone for SUI on the D1 timeframe.
The 6-hour chart showed that $1.87 and $2.03 were key local resistance levels. These were based on the Fibonacci retracement levels plotted from the price drop to $1.31 in December.
Additionally, the $2.03 level has confluence with the supply zone highlighted on the 1-day timeframe. This supply zone could stall the upward momentum and potentially cause a retracement toward $1.70-$1.75.
The bullish case for SUI
The Open Interest was up 18% in 24 hours, according to Coinalyze data. The rising spot CVD indicated high spot market demand, and the funding rate showed bullish market sentiment and traders willing to go long.
Together, it showed spot and speculative strength that can drive prices to $2.23 and beyond, if sustained.
Should you take profits and wait?
The range breakout has yielded remarkable success, and Sui was closing in on the psychological $2 resistance. The higher timeframe structure was bearish, despite the recent gains.
Holding out for a sustained rally as Bitcoin [BTC] nears the $96.5k liquidity pocket could be risky. SUI traders can wait for a retracement, or a breakout and retest of the $2.23 area before going long again.
Final Thoughts
- Sui has strong spot demand and speculative interest driving its rally toward $2.
- Traders can look to book profits and wait for the market to show its next move before entering positions.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
