SUI price is showing early signs of stabilization after a period of sustained selling pressure, with the token holding near a key technical support zone. The asset is trading close to a level that technical indicators suggest could support a recovery if buyers are able to push price above important resistance areas.

SUI is currently trading at around $0.6577, up 0.83% over the past 24 hours. Daily trading volume is about $248.90 million, while market capitalization stands near $2.68 billion and market dominance at 0.12%. The current recovery attempt is taking shape near an important support area that traders often watch for confirmation after extended declines.

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SUI Support Holds Near $0.60-$0.65

Crypto market analyst Crypto With Gopal said SUI is forming a descending wedge, or falling wedge, on the daily chart. The pattern shows lower highs and a gradual consolidation toward the $0.60-$0.65 support zone, which could set up a bullish reversal if the price breaks out.

The first major resistance zone is seen at $1.00-$1.20. A sustained daily close above the wedge’s upper boundary could strengthen the recovery setup and bring the longer-term $2.60 technical target into focus, although that scenario still depends on confirmation from price action.

The analyst’s chart was also shared on X: https://x.com/cryptowithgopal/status/2089960940649468198

A TradingView chart referenced in the source can be found here:

SUI Price Faces Key Support and Breakout Test

The $0.60-$0.65 area remains a crucial support zone for SUI. If the token holds this range, it could provide a base for a future recovery. A move below $0.60 would invalidate the bullish setup and increase downside risk.

Near-term resistance is expected around $0.6788. If SUI breaks above that level, the next targets are $0.7073 and $0.7487 in the current trading setup, with invalidation below $0.6635.

Beyond those levels, the $1.00-$1.20 range remains a more significant resistance area. A successful move through that band would be needed to improve the broader bullish outlook and support the possibility of higher targets. In other words, the current setup hinges on whether the token can convert support into a base for a confirmed move higher rather than simply extending its range-bound trade.

Sui Network Developments Add Market Context

The technical setup comes as the Sui network continues expanding its infrastructure. In July, Sui launched the Hashi testnet, which is designed to support Bitcoin-backed financial applications. The network also said it reached a peak of more than 6 million transactions per second during an experiment involving AI agents.

For SUI price, the immediate focus remains on whether buyers can defend support and secure a confirmed breakout. Until the falling-wedge resistance is cleared, the recovery remains a technical possibility rather than an established trend reversal, and the next phase will be defined by how price behaves around the nearby resistance levels already outlined.

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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.