Layer-1 blockchain Sui (SUI) is facing a resistance point that could lead to price volatility.
SUI, one of the pioneers of the altcoin bull, has been trading between $3.5 and $3.85 for the past few weeks. SUI, which stayed in the background during the period when XRP was rallying and was accompanied by major altcoins like XLM, is preparing for its possible exit. According to chart analysis, the $4 level, one of the major resistances for the SUI, may be tested soon.
What’s next for the SUI, which has risen 760% since August?
Sui (SUI) analysis
Although Sui (SUI), a layer-1 blockchain built with the Move language, is among the best performers of 2024, it has been trading in a consolidation phase since November 16.
According to Coinpedia analysis, SUI’s Relative Strength Index (RSI) is at 65.67. The level in question shows that the willingness to buy is high. On the other hand, the average directional index of SUI also increased to 25.32. The analysis says that both indicators give positive indications.
Claiming that the daily transaction volume is insufficient despite the indicators, Coinpedia noted the following;
“When we check the daily trading volume of SUI, a negative outlook is revealed. The popular altcoin has seen a 13.27% drop in trading volume over the past 24 hours. The price rose about 3 percent despite a drop in transaction volume. The ADX, an indicator on the daily chart, shows that the buying power has decreased at 22.11.“
Data from Coinglass also shows that a large amount of SUI is transferred to centralized exchanges.

According to Coinpedia’s chart analysis, SUI will need to break above $4 to continue its rally. If the resistance in question cannot be overcome, the price may drop to the nearest support point of $3.19 in a short time. If the SUI cannot sustain at $3.19, it will test weak support at $2.9. Analysis predicts that a major crash would bring back up to $2.3.
In the event of a possible resistance break, SUI is expected to reach $4.5 and remain in this region permanently.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.