SUI Recovery Hinges on Reclaiming Key Price Threshold
SUI has been struggling to reclaim its value above $1, but analysts believe that clearing this threshold is crucial for a broader recovery. According to Bitget, SUI's weekly close needs to be above $1-$1.10 before it can tackle the next resistance zone. This means that buyers will need to defend the $0.95 support level and push prices higher.
The recent decline in SUI's value has been driven by sellers, with leveraged traders remaining active around the $0.90-$1.00 range. CoinGlass liquidation data shows that these traders have been switching between long and short positions, reflecting heightened speculative activity during periods of elevated market volatility.
The first recovery objective for SUI is between $1.30 and $1.50, but this zone has previously rejected prices in earlier recovery attempts. Clearing this range will open attention toward the $1.75-$2.00 trading region next, which is expected to be more challenging due to increased resistance.