Sui (SUI) faces critical $0.71 support level amid bullish technical signals

The Sui (SUI) token is currently trading near $0.72, following a 4% decline over the last 24 hours and a 7% drop over the past week. Market analysts are closely monitoring the $0.70 to $0.71 range as a critical support level. If this support holds, technical indicators suggest a potential price reversal toward targets of $0.84, $0.85, or even $0.92.

Technical analysts have identified a TD Sequential buy signal on the 12-hour chart, an indicator that previously preceded a 17% price rally. Additionally, derivatives data from CoinGlass indicates a bullish sentiment among top traders on Binance, with a long/short ratio of 2.78, meaning 73.53% of top accounts are positioned long. However, analysts warn that a failure to maintain the $0.71 support could lead to further selling pressure toward the $0.62 to $0.63 range.