SUI Poised for Potential Resurgence as Key Accumulation Zone Holds Strong
Despite a recent deep correction from its 2024 highs, the SUI token demonstrates remarkable resilience, firmly entrenched within a critical high-timeframe accumulation zone on the weekly chart. This sustained defense signals that buyers are actively "reloading" rather than distributing, hinting at a strong re-accumulation phase. The market structure suggests that significant capital may be positioning for a substantial upside move.
Unwavering Accumulation Amidst Correction
From a technical standpoint, several bullish indicators are aligning for SUI. The token has successfully swept liquidity at lower price points, while a robust weekly bullish order block between $1.50 and $1.30 remains intact. This zone is further reinforced by an overlapping Fair Value Gap (FVG), underscoring persistent buyer interest. This collective technical alignment supports the narrative of ongoing re-accumulation, setting the stage for a potential shift in market momentum.
Bullish Momentum Builds: Targets and Critical Support
SUI has already delivered a notable 45% bounce from its entry region, with its ascending channel structure showing no signs of breaking. The high-timeframe bias is gradually tilting bullish as the market structure stabilizes. Analysts are eyeing ambitious upside targets for SUI, projecting potential moves to $5, $10, and even $20. Critically, the macro bullish thesis remains valid as long as SUI maintains its position above the $1.20 level, which acts as a crucial benchmark separating continued upside potential from a bearish turn.
The Path Ahead: Key Resistance and Invalidation Points
This current market setup is characterized by patience, offering attractive risk-to-reward opportunities for spot and swing traders. The primary challenge for SUI to confirm a broader bullish expansion lies in achieving a decisive break above its upper trendline resistance. Such a breakthrough would signal stronger conviction and pave the way for sustained upward price action. Conversely, a weekly close below the $1.20 mark would invalidate the current bullish outlook, reducing the recent rally to merely a relief bounce within a broader consolidation, leaving the market's long-term direction undecided.
