SUI gears up for recovery as technical signals hint at breakout move

SUI has also printed a golden cross, with the 50-day simple moving average crossing above the 200-day SMA. This is one of the most widely watched bullish signals in technical analysis and often marks the start of a new uptrend.

The last time SUI formed a golden cross was in late 2024, when it was trading around $1.10. That crossover was followed by a massive 380% rally, which took SUI all the way to its all-time high of $5.35.

If history repeats itself and bullish momentum builds, SUI could be on track to retest that ATH and maybe even break past it. The next major resistance to watch is around $4.31. A clean break above that level could open the door to a move toward the 161.8% Fibonacci extension at $5.92.

That said, technical indicators still need confirmation. The RSI has started trending upward but hasnt crossed above 50 yet. A move above this threshold would suggest that stronger buying momentum is taking over.

SUI RSI chart — June 9 | Source: crypto.news

However, the golden cross alone may not be sufficient to sustain a major rally without strong follow-through from buyers. Continued bearish overhang, such as the SECs delay of the spot SUI ETF, could also limit upside momentum in the near term.

If bulls fail to step in with strong buying volume, SUIs price could retreat, with $2.33 acting as the key support level to watch on the downside.