Sui (SUI) Surges 8% to $3.19 as Buyers Return, But Resistance Looms at $3.40

The daily RSI has recovered slightly to 43.03, moving just below its 14-day average of 43.82. This narrow divergence implies mild bearish sentiment, although the RSIs trajectory hints at a possible bullish reversal if the recovery persists. The RSI remains beneath the 50-neutral mark, reinforcing that the market has yet to regain full strength.

The Chaikin Money Flow (CMF), currently at -0.11, indicates continued capital outflows. While negative, the CMFs uptick from lower levels shows a decline in selling pressure. This modest improvement suggests that accumulation might be underway despite broader weakness in momentum.

No imminent bullish crossover is evident in the moving averages. The price stays below its short-term average, confirming downward pressure. Still, todays strong green candle could attract buyers eyeing a breakout. Volume surged to 43.84 million SUI, confirming renewed activity around the $3.00 psychological barrier.

If resistance levels fall, the move could spark a short squeeze, encouraging rapid upside. However, lingering outflows and the RSIs sluggish pace demand caution. Any decisive break above $3.40 would invalidate the recent downtrend and establish a new short-term bullish outlook for SUI.