Sui (SUI) continues to draw attention as traders evaluate whether the token’s recent 32% decline since early November reflects a deeper correction or a setup for stabilization.
As of the latest review, SUI is trading near $1.59–$1.62, with technical data suggesting that the $1.71 high-timeframe support zone could play a pivotal role in determining short-term direction..
While the broader Sui ecosystem has seen notable developments—such as the launch of the USDsui stablecoin—declines in user activity have contributed to mixed sentiment. Traders are now examining multiple indicators to understand whether SUI’s structure supports a recovery or a continuation of its current downtrend.
3-Day Chart Analysis: Why $1.71 Remains a Critical Level
A 3-day SUI/USDT chart review shows a long-standing resistance zone at $1.71, previously tested during consolidation phases in August and October. According to technical analyst DaanCrypto, who frequently covers high-timeframe market structure, holding above this level “is an important anchor for maintaining structural stability.”
SUI is watching for a reclaim of the $1.71 high-timeframe support zone to validate the potential for a technical rebound. Source: @DaanCrypto via X
In past cycles, SUI has respected this zone as a re-accumulation area, though this does not guarantee similar behavior given current market conditions.
Forecasting platforms provide differing expectations:
Changelly projects short-term stabilization around $1.71, though its model is based largely on algorithmic pattern recognition.
CoinCodex, which incorporates historical volatility modeling and momentum metrics, expects a potential dip toward $1.35 by November 20.
These contrasting outlooks highlight why traders are treating $1.71 as a decision point rather than a confirmed floor.
Technical Indicators: What the Structure Suggests Now
Using 4H and 12H charts to assess lower-timeframe behavior, SUI appears to be forming a continuation pattern above the $1.65–$1.67 support area. The price is currently positioned above the EMA20 and EMA50, based on data reviewed on November 17.
SUI maintains a bullish structure above key supports, with momentum indicators and moving averages signaling that a breakout above $1.69 could open a path toward higher resistance levels. Source: mastercrypto2020 on Tradingview
However, these signals only suggest potential—not confirmation—of buyer strength.
Key observations from firsthand chart analysis:
RSI is trending upward with no clear bearish divergence on the 4H chart, indicating improving momentum but still within a neutral range.
Multiple long lower wicks show that buyers are absorbing dips, though this pattern can weaken quickly in low-liquidity environments.
A close above $1.69 would strengthen the case for a move toward $1.73–$1.77, but only if accompanied by rising volume—a factor often overlooked in automated predictions.
Traders should note that these targets are scenario-based, not guarantees, and remain sensitive to Bitcoin volatility.
Ecosystem Fundamentals: Stablecoin Launch Helps, User Activity Declines
According to DefiLlama data as of November 17, Sui’s total value locked (TVL) climbed to approximately $1.19 billion following the launch of the USDsui stablecoin on November 12. Stablecoin integrations often contribute to liquidity depth and can support DeFi participation.
However:
Daily active users fell to roughly 400k, the lowest since August.
On-chain transfers and DeFi deposits indicate some capital rotation into lower-risk assets.
SUI has triggered a fresh 4H EMA-deviation long signal after a sustained decline, with price now rebounding from a lower demand zone and stretched from key EMAs across multiple timeframes. Source: Goldfinch_song on TradingView
On-chain researcher commentary suggests that while TVL growth improves long-term ecosystem health, declining user counts can suppress short-term momentum—an important distinction for traders interpreting mixed signals.
Price Structure: Resistance Zones to Watch
SUI’s price has been compressing within a broad descending triangle for nearly a year. Based on recent chart interactions:
Immediate resistance: $1.73
Secondary hurdles: $1.77 → $1.82 → $1.88
High-timeframe target: $2.00 remains a psychological barrier rather than a statistically supported projection.
For traders, these levels function as reaction zones, not firm targets. If SUI fails to sustain strength above $1.71, price could revisit the $1.40–$1.35 region, especially if BTC weakens or liquidity thins across altcoins.
User-Focused Insights: How Traders Can Interpret Conflicting Signals
To make sense of contrasting forecasts and technical setups, traders commonly look for confluence, such as:
Price holding above key moving averages while showing rising volume
Support retests that generate higher lows
On-chain improvements aligning with increased trading activity
Signals that could invalidate a bullish scenario include:
A daily close below $1.63–$1.65, which would weaken the short-term structure
RSI rolling over with high-timeframe bearish divergence
Sharp declines in ecosystem liquidity or BTC dominance spikes
Ecosystem developments, like stablecoin integrations, typically support long-term growth, but they do not immediately translate to price appreciation—especially in risk-off environments.
Final Thoughts
Sui was trading at around $1.59, down 5.63% in the last 24 hours. Source: Brave New Coin
SUI’s price direction depends heavily on whether the $1.71 support holds, how volume responds to near-term resistance, and broader crypto market conditions. With mixed indicators across technical and on-chain data, traders should approach both bullish and bearish scenarios with measured expectations and closely monitor structural shifts in the coming days.
