SUI Price Action Stuck Between Key Resistance Levels

SUI is trading at $0.72 on August 31st, and its price action has been stuck between $0.70 and $0.76 for an entire day. This tight range suggests indecision among traders.

The token is currently sitting near the 50-day average with open interest surging over 5% in 24 hours. However, the technicals remain uncertain, making it difficult to predict the next move.

According to Tony Kim, every short-term bounce has been sold at the $0.76 level, which is also the immediate resistance shelf and the upper boundary of a multi-session consolidation. If SUI fails to reclaim this level with conviction, the path of least resistance will likely remain sideways-to-down.