Sui price up 5.16% intra-day: bullish structure remains strong

Sui has rallied 5.16% over the past 24 hours, bouncing strongly from recent levels. Although the move has now encountered technical resistance, the broader market structure remains decisively bullish. Sui ( SUI ) price action has posted a notable 5.16% gain in the last 24 hours, reflecting renewed buyer interest and momentum. While the short-term rally has approached a local resistance level, the overall market structure remains firmly bullish. The current price action is part of a broader consolidation within a high-timeframe uptrend, with bulls maintaining control despite potential intraday pullbacks. Key technical points Local Resistance at $3.88: Sui has approached the 0.618 Fibonacci retracement level, which aligns with the channel midpoint and is currently acting as resistance. Bullish Market Structure: The overall trend remains bullish with higher highs and higher lows still intact on the macro timeframes. Key Support at $3.33: A potential pullback could retest the $3.33 level, where multiple confluences including the VWAP and 0.618 Fibonacci suggest a strong buy zone. SUIUSDT (4H) Chart, Source: TradingView Sui’s recent move into the $3.88 resistance zone, which aligns with the 0.618 Fibonacci level and the midpoint of the ascending price channel, has led to short-term consolidation and a possible mild pullback. However, this resistance is considered temporary in the context of the prevailing uptrend. The next key level to watch is support at $3.33. This zone marks the channel low and aligns with several technical confluences, including the VWAP and a second 0.618 Fibonacci level. A move down to this area would likely form a higher low, signaling bullish continuation and preserving the macro structure. You might also like: PlanB doubles down on $400k target for Bitcoin, analysts urge caution Importantly, this scenario is not viewed as a breakdown or trend reversal. Instead, a potential pullback would serve to reset momentum before another push toward higher levels, particularly the major resistance near $4.65. What to expect in the coming price action If Sui fails to break through the current resistance at $3.88, a short-term retracement toward the $3.33 support level is likely. However, this would be considered a healthy correction within a broader bullish trend. As long as $3.33 holds, the overall structure remains intact, and bulls may target a continuation toward $4.65 in the near term. Read more: Pi Network slide continues as major announcement underwhelms traders