SUI price is up nearly 17% in the past 24 hours and about 37% in the past seven days, making it one of the best performing stocks in the short term. The move comes after several weeks of sideways movement, with bullish interest once again rising.
However, the big picture is still important. SUI remains down about 61% on a yearly basis, meaning this rally is occurring within a broader attempt at recovery rather than confirmation of a long-term uptrend. While recent price strength is real, new data shows profit-taking is starting to increase. The bull run now depends on buyers being able to defend the $2.00 level.
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Triple bottom and EMA break puts bulls in control – for now
On the 12-hour chart, SUI has formed a clear triple bottom around $1.30. This means that the price has tested the same support zone three times since early November and failed to break below each time. Such behavior often indicates that the seller is losing control and the buyer is consistently intervening.
The bull market gained further momentum when the SUI rose above the 100-period exponential moving average (EMA) on the 12-hour chart. EMAs give more weight to recent prices, so when prices retrace their long-term EMAs, there is often a meaningful change in trend movement.
SUI is currently approaching the 200-period EMA, which is close to the psychological level of $2.00. This zone also acts as technical resistance. A clean 12-hour close above this would confirm that buyers are increasing control.
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A bullish crossover setup is also forming. The 20 period EMA is approaching the 100 period EMA. A similar bullish crossover (20-day EMA and 50-day EMA crossover) earlier this month sent prices up 22%, indicating that momentum could accelerate if these signals align.
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In other words, this structure explains why SUI has increased. Strong support at $1.30 and subsequent recovery of the key EMA gave buyers confidence. However, this alone does not guarantee continuity.
Momentum and on-chain data show profit-taking risk is rising
Momentum indicators provide even more vigilance.
The relative strength index (RSI) measures how strong recent price movements have been. Currently, the RSI is making new highs, while the SUI price is trying to form even lower highs. This setup is known as a hidden bearish divergence and often indicates that momentum is weakening even though prices still look strong. And in doing so, the RSI also moved towards overbought territory.
This discrepancy has not yet been confirmed. It becomes active when the next daily candle closes below $1.99, locking in the low-to-high structure. Until then, it remains a warning, not a trigger. This also explains why the aforementioned $2.00 level is so important for the bullish strength to continue flashing.
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History supports this risk. The last time the RSI reached a similar level was in mid-July, and the SUI corrected by about 15% over the next nine days.
On-chain data powers momentum warnings. Spot trading flow shows a sharp change to selling. On January 4, SUI recorded net outflows of approximately $8.37 million, which reflects regular buying and selling. According to the latest data, the net inflow was approximately $10.15 million, meaning tokens are returning to the exchange.
This change represents a sharp shift towards selling pressure in a short period of time. Increased inflows usually indicate profit taking, especially after a rapid rally.
The combination of weaker momentum and increased foreign exchange inflows explains why SUI price growth is slowing near resistance.
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SUI price level determines whether rally survives
As bullish structure and profit-taking pressures collide, the SUI price level is now more important than the index.
For the rally to continue, as mentioned above, SUI’s daily closing price needs to be above $2.00. Sustaining above this level would negate the risk of bearish divergence and open the way to $2.15, which would represent an upside of around 10% from current levels. This zone was lost in early November and has not been recovered since.
If the selling pressure continues and the price is unable to sustain $1.95, downside risks will increase rapidly. The first significant support is near $1.70, which would imply a pullback of about 12%. A deeper correction could test the $1.30 support, the same level that formed the triple bottom and supported the rally.
Although there is a solid technical basis for SUI’s price surge, profit taking is currently testing investor confidence. As long as the price remains above $2.00, the upside theory remains in place. Once that level is lost, the focus will shift from continuity to integration or coordination.
