SUI Bounce? Chart Hints at Major Rally… Maybe? 🤔💸

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TL;DR

  • SUI holds strong support at $3.30 with a triangle pattern signaling potential breakout above $4.20. Or it’s just a fancy napkin fold.
  • Analysts watch $3.17 pullback level before a possible surge toward $5.40, $6.01, and $7.15 targets. Because who doesn’t want to dream big? 🌟
  • Despite bullish charts, the drop in futures interest and TVL dips suggest cautious market sentiment. Translation: “We’re all waiting for the other shoe to drop… or the rug to be pulled.”

Price Moves Within Bullish Pattern

SUI is showing a familiar setup on the charts. The token is trading near $3.47 and holding above a rising support line that has been in place since April. On the 2-day chart, the price action has formed an ascending triangle. This type of setup often appears before a move higher. Or a move to the moon… if you believe in fairy tales.

Analyst Jonathan Carter shared that the token is finding strong support near $3.30, which is the lower edge of the triangle. He pointed out that this level has held several times, suggesting buyers are still active in this range. The upper boundary of the triangle stands near $4.20. This level has limited price moves since early summer. “Buyers are still active” – or they’re just stubborn. 🤷♂️

#SUI Triangle Support Holding Like a Boss

The token is finding strong support at the ascending triangle lower border on the 2D timeframe‍

Triangle pattern + support retest = breakout setup building

Bounce targets:
$4.20
$4.80
$5.37

This is accumulation disguised…

– Jonathan Carter (@JohncyCrypto) August 20, 2025

If the price breaks above $4.20, Carter noted three levels to watch: $4.80, $5.37, and potentially higher. These levels are based on the size of the triangle and past price reactions. Or they’re just random numbers. Who knows?

The trading volume data indicates that it is more active near the current price. Beyond $4.20, it becomes a possibility that may enable faster price movement in case that threshold is broken. Or it’s a trap. Always a trap.

Remarkably, the 50-day average is flat, indicating no significant trend, and the RSI is at around 45, indicating a balance between buying and selling pressure. Balance? More like a seesaw with no one on it.

Pullback May Come Before Breakout

Another analyst, Ali Martinez, shared a daily chart using Fibonacci tools. He expects a pullback toward $3.17 before any breakout. This level lines up with the 0.618 retracement level and the rising trendline. Because nothing says “confidence” like a 61.8% retracement.

His chart outlines a path where SUI could bounce from $3.17 and move toward $4.20, then aim for higher targets at $5.40, $6.01, and $7.15. These are drawn from past price swings using Fibonacci extensions. Or they’re just wishful thinking. 🌈

Sentiment Weakens Despite Technical Setup

Data shows that traders are becoming more cautious. Open interest in SUI futures dropped from $2.66 billion in late July to $1.82 billion now, according to CoinGlass. This points to reduced trading activity. “Cautious” is just a fancy word for “terrified.”

The Sui network has also seen a drop in activity. DeFiLlama reported a 2% dip in total value locked (TVL), bringing the figure to $2.02 billion. These changes reflect cooler sentiment across the ecosystem. Cooler? More like icy. ❄️

Additionally, SUI was recently listed on Robinhood, making it available to US traders. This came after a deleted blog post caused early speculation. Despite the listing, the token fell. This move goes against the usual pattern where listings often lead to price gains. Robinhood’s crypto offerings: A rollercoaster with no seatbelts. 🎢

The listing is part of Robinhood’s effort to expand its crypto offerings. SUI is the native token of the Mysten Labs Layer-1 blockchain. Layer-1? More like “layer-1 of confusion.”

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2025-08-20 17:30