The SUI token begins to show signs of recovery as it tests the $3.00 resistance level after a lengthy downtrend.
Signs of SUI's Downtrend Ending
SUI has been in a downtrend since the beginning of the year, dropping from over $5.50 in December 2024 to under $2.30 by March 2025.
The SUI chart displays a descending channel with lower highs and lower lows, typical of bearish pressure. However, this started to change in early May. The price bounced significantly off the $2.20–$2.30 support zone, which has now held twice, indicating its solidity.
Testing the $3.00 Resistance Level
For the past few weeks, SUI has been trying to push through $3.00 but has so far faced challenges. The latest candles indicate selling pressure, with upper wicks forming.
Nonetheless, there is a consistent pattern of higher lows, implying that buyers are still active. If SUI price can close above $3.00 on the 3-day chart, it opens up potential for a run toward $3.50 and possibly even $3.90–$4.00.
Key Support Zones for SUI
If the breakout does not happen immediately, the support levels to watch are $2.55 and $2.30. Both zones have held up well in the past and could catch the price again if needed. SUI price has already broken out of its short-term downtrend line, which is an early bullish sign. The crucial question now is whether buyers have enough strength to flip $3.00 into support and initiate a larger move.
The SUI token demonstrates signs of a potential exit from a prolonged downtrend, and traders are closely monitoring developments around the $3.00 resistance level.
