Sui extends rally as momentum accelerates above longer-term averages

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Sui jumps 7.89% today to $0.7494

Highlights

Sui suffered three mainnet outages in 48 hours after its v1.72 upgrade, eroding confidence in its technical reliability.
Frequent disruptions are leading investors to reassess Sui's ability to attract new capital and provide a stable operating environment.
SUI/USD shows short-term bullish momentum, but overbought indicators and volatility signal potential pullbacks within a $0.6953–$0.8035 range.

Reliability concerns rise as repeated outages follow upgrade

Sui has faced three mainnet halts within a 48-hour period after implementing its v1.72 upgrade, as a bug introduced by the update temporarily disrupted network operations. This sequence of outages has directly undermined confidence in the platform’s technical reliability, raising broader concerns about its capacity to assure ongoing stability and operational continuity. As uncertainty around Sui’s ability to attract new capital and maintain a dependable environment persists, market participants are reevaluating risk and potential engagement with the ecosystem.

Buyer dominance persists as overbought signals temper optimism

On the SUI/USD hourly chart, price trades above the MA-20 at $0.7213 and the MA-50 at $0.7121, while remaining notably below the longer-term MA-200 at $1.1796. The Ichimoku Kijun level at $0.7093 provides immediate support. Technical momentum observations show that MACD, ADX, and Bull/Bear Power (BBP) all confirm prevailing buyer strength, with the price close to the top of a volatile intraday range. The RSI at 65.57 is indicative of buying conditions, but with both Stoch RSI and CCI in overbought territory, there is a warning for potential short-term exhaustion. The Awesome Oscillator also aligns with ongoing upward momentum, though divergences emphasize risk of a cooling phase.

Sideways movement projected as volatility and support guide outlook

In the next two to three trading days, SUI/USD is likely to move within a volatility band between $0.6953 and $0.8035. The probability of an upward continuation stands at 63%, but a pullback is possible if support at $0.7093 breaks. The baseline expectation is for Sui to trade sideways within this corridor; a decisive close above resistance could trigger further gains, while a drop below immediate support would open the path for a more sustained decline.

Anton Kharitonov, expert at Traders Union, sees Sui’s recent technical momentum as vulnerable given underlying reliability issues. He highlights that repeated mainnet outages have shaken user confidence and could hinder fresh capital inflows. The analyst maintains a cautious view, noting risk of near-term cooling if key support levels are lost. "Despite short-term bullish signals, ongoing network uncertainty makes me wary of sustained upside until operational stability is clearly restored."

Earlier, analysts noted that Sui was experiencing persistent bearish sentiment with low prospects for a near-term rebound. The current market rebound, despite notable technical disruptions, introduces heightened volatility and uncertainty, making the $0.7093 support level a critical zone to monitor for any directional shift in the days ahead.

Source of Data: SUI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.