- Sui (SUI) has been consolidating between $3 and $4, facing strong resistance at $4, with its future trajectory heavily dependent on Bitcoin’s movements.
- If BTC surpasses $100K, SUI could break past $4 and rise toward $4.28; otherwise, continued volatility may lead to further consolidation or a pullback below $3.
Sui (SUI) has been consolidating between $3 and $4 over the past ten days, creating an optimal trading range for investors. Traders have capitalized on both bullish and bearish swings, gaining over 20% by strategically entering and exiting positions. The key question remains: Can SUI break through the $4 resistance, or will it continue trading sideways?
Key Resistance and Market Dynamics
Currently, SUI is facing a strong resistance zone just below the $4 mark, which is reinforced by key moving averages. This supply area has become a crucial profit-taking region for swing traders. Additionally, the daily Relative Strength Index (RSI) is trending below the average, signaling potential retracement toward the $3 support level if Bitcoin (BTC) continues to exhibit choppy movements between $94K and $100K.
Bullish Signs on the 4-Hour Chart
Despite bearish signals on the daily chart, the 4-hour timeframe presents a more optimistic outlook. SUI has managed to trade above important moving averages for the first time since late January, indicating potential upward momentum. However, even if this trend continues, the rally may face significant resistance between $4 and $4.28, particularly if Bitcoin fails to sustain a move beyond the $100K mark.
Liquidity Hunting and Key Price Levels
Market makers often target liquidity-rich zones to influence price movements. In SUI’s case, major liquidity zones have been identified at $2.8, $3.4, $4, and $4.3. Given its current position between $3.4 and $4, SUI could first test these levels, with $4 acting as a critical resistance. A successful breakout above this zone could propel the price higher, provided Bitcoin maintains stability.
Impact of Bitcoin’s Performance
Bitcoin’s price action plays a pivotal role in determining SUI’s trajectory. If BTC surpasses $100K and enters a bullish phase, SUI is likely to break past $4 and advance toward $4.28. Conversely, if Bitcoin struggles with volatility and turns bearish, SUI may retest support levels below $3, triggering selling pressure.
Conclusion: What’s Next for SUI?
The near-term outlook for SUI hinges on Bitcoin’s performance. Should BTC rally and stabilize above $100K, SUI could experience a strong recovery. However, if Bitcoin remains volatile, SUI may continue consolidating within its current range or face another short-term pullback. Traders and investors should keep a close watch on Bitcoin’s price action to gauge SUI’s next move.