SUI Price Battles at $1.47 As Downtrend Holds: Is a Relief Rally Imminent?

SUI grinds against a stubborn $1.47 resistance wall, its downtrend showing no signs of a clean break. Traders are left watching the tape, wondering if this is the floor or just another pause before the next leg down.

The Technical Tug-of-War

Every test of that $1.47 level tells a story. It's not just a number—it's a sentiment gauge. The market's memory is short, but chart patterns have long teeth. For now, the bears have the upper hand, squeezing out weak positions with each failed rally attempt. The order book around this zone is likely a mess of stop-losses and desperate bids.

Spotting the Relief Bounce

If a bounce comes, it won't be subtle. Look for a violent rejection candle at support, followed by sustained buying volume that doesn't just evaporate in an hour. That's the difference between a dead-cat bounce and a legitimate shift in momentum. Until then, it's all noise—the kind that makes retail traders chase ghosts while the algos quietly rebalance their books.

Remember, in crypto, a 'relief rally' is often just a prettier name for a bull trap—giving hope just long enough for the next wave of selling to feel like a personal betrayal. The real signal won't be the bounce itself, but what happens after.

SUI Bounces from Short-Term Demand Zone

Despite the downward trend, sui has recently bounced off a region of demand and is currently at about $1.47. This represents a short-term bottom where the selling pressure is not as strong, thus creating a chance for a small bounce.

However, the bounce remains weak, and the breakout above the current region failed to MOVE into the previous regions of resistance.

Analyzing the daily chart on TradingView, it is clear that the market is still weak. Since November, the market has been falling. Each rally seen in the market has failed to break the current trend.

This suggests that the current market is weak. There is no strong indication of buying pressure, as evidenced by low momentum. Momentum is evidenced by the RSI, which is about 43-44.

SUI Shows Relief Bounce, Not Trend Reversal

The present movement in SUI is more of a relief rally rather than an indication of a strong reversal in the market. The pullback information indicates that the market is taking some time to correct itself rather than moving upwards.

For an indication of a bullish reversal to occur in SUI, it will have to move above the green zone identified in this analysis and move through previous levels of resistance while displaying strong buying volume. Otherwise, there may be more rejection levels and testing of new lows.