SUI Poised for Breakout as Price Holds Steady at $2.90 Amid Crypto Market Rebound

SUI's price action indicates a potential breakout as it consolidates NEAR the $2.90 resistance level. With a trading volume of $1.20 billion and a market cap of $6.80 billion, the token has seen a 0.81% increase over the past 24 hours. Maintaining its position above key moving averages, SUI shows bullish potential.

Technical analysis suggests a mild bullish bias, supported by the 60-period moving average on 4-hour charts. A decisive break above $3.00 could fuel sustained upward momentum, while a drop below $2.85 might lead to a retest of support levels between $2.60 and $2.70.

This stabilization follows weeks of volatility driven by macroeconomic uncertainty. crypto analyst @the_wolf_mind points out that similar low-volatility patterns have historically preceded significant price movements. "The current setup suggests accumulation," the analyst noted, "but weakening momentum warns of possible volatility ahead."