SUI Eyes $3.90 Target as Supply Shrinks and Bulls Defend Critical $3.20 Support

[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN] SUI News - SUI is currently trading near the crucial $3.20 support level, a zone that has consistently held against selling pressure. Market analysts are monitoring for a potential rebound, with upside targets set at $3.53 and $3.90 if support remains intact. Technical analysis reveals a falling wedge pattern suggesting possible reversal momentum, though traders await confirmed breakout signals. Token burn mechanisms and freezing protocols are accelerating, with over 1.9 million SUI permanently removed from circulation. This supply reduction could provide fundamental support for prices if demand remains steady. Recent price action shows lower highs following each rally, indicating potential weakening in buying momentum that requires close observation. Prominent crypto analyst BitGuru emphasizes that holding the $3.20 level could reignite buyer interest and trigger upward movement, while a breakdown below this support may catalyze deeper corrective moves. The market currently balances at a critical pivot point where the next directional move will likely determine short-term trajectory for SUI token valuation.