SUI Price Nears $0.94 Supply Zone: Can It Break the Key $0.91 Resistance?

Recently, the price of SUI has gradually rebounded after finding support near $0.90, slowly approaching the $0.93–$0.94 supply zone that has repeatedly hindered its upward movement. This zone has triggered price reversals multiple times, especially during the last rally when the price quickly fell back after touching it, dropping below $0.91 and weakening market sentiment. Now, this area has evolved into a clear liquidity cluster, becoming the central focus of the battle between bulls and bears.

The current price is hovering below the $0.9159 resistance level, forming a narrow range-bound pattern. Recent candlesticks show small bodies and moderate shadows, reflecting market probing and hesitation at key levels, without a clear direction yet. The previous decline pushed the price from above $0.96 to the $0.89–$0.91 range, and although the recent rebound has brought the price closer to resistance, it has failed to break through effectively, instead forming a dense compression pattern below.

The alternating bullish and bearish candlesticks in the price action indicate that buyers and sellers are relatively balanced within this range, and the market is in a state of temporary stalemate. Structurally, the key support below is at $0.8735, while the $0.93–$0.94 area is a clear supply zone above. If the price fails to break through $0.9159, it may retrace again to test the support level. In the short term, if the price can stabilize above $0.90 and break through $0.9159, it is expected to open up upward space, targeting the $0.93–$0.94 area. Conversely, if sellers dominate the market again, the price may fall to test the $0.8735 support, and the short-term range-bound pattern may continue. The market is currently at a critical juncture, and the next directional breakout will be the key to watch.