Sui has stepped back after hitting the $1.40 resistance, but the overall bullish structure remains intact. The token currently hovers near $1.21, still well above April’s lows around $0.85, indicating that the recent rally has not lost all steam. Traders are now focused on whether buyers can defend the $1.18–$1.20 support zone, which could set the stage for another push higher.
The pullback comes despite strong fundamentals. On-chain data reveals a surge in stablecoin liquidity and decentralized exchange volumes on the Sui network, while total value locked continues to climb. Institutional interest is also rising, partly due to Mysten Labs’ scaling roadmap and validator expansion plans. These factors have kept sentiment positive among investors and analysts alike.
Derivatives markets reflect this optimism. Liquidation heatmaps show dense clusters between $1.30 and $1.45, suggesting that short squeezes amplified the earlier rally. Funding rates remain mostly positive, indicating that traders maintain a bullish outlook despite the current dip. The Supertrend indicator has turned bullish on the daily chart and stays below price action, reinforcing the broader uptrend.
Looking at the charts, Sui recently broke out of a prolonged consolidation between $0.85 and $1.05, then surged to test $1.40 before retreating. The MACD is still in bullish territory after a strong crossover, although the histogram is flattening, which points to a slowdown in momentum. If Sui can hold above $1.20, another attempt at $1.40 looks probable. A break above that resistance could propel the price toward $1.50 and beyond, levels not seen since late 2025.
On the flip side, losing the $1.18–$1.20 support might lead to a deeper correction, with the next key zone around $1.05. For now, the market is watching for a catalyst to reignite buying pressure. The overall story remains bullish as long as the Sui ecosystem continues to expand and attract liquidity.