SUI Faces Key Test as $3.17 Support Emerges as the Deciding Level for the Next Breakout

SUI’s $3.17 support level emerges as the crucial zone for sustaining bullish momentum.

On-chain data shows sellers dominate, but fundamentals and adoption trends stay strong.

Rising market cap, DeFi growth, and institutional backing signal long-term resilience.

Sui (SUI) has been under pressure following its Robinhood listing, with the token struggling to hold momentum above $4. Despite the retracement, analysts maintain focus on the $3.17 support level, which could play a central role in shaping the next breakout attempt. At the time of writing, SUI was trading near $3.51.

Price Movements and Key Technical Levels

According to an analysis prepared by Ali Martinez, SUI is likely to test $3.17 support before another breakout attempt. This level aligns with the 62% Fibonacci retracement zone and an ascending trendline that has guided the token’s uptrend since April. Analysts note that holding above this zone may provide a strong foundation for renewed bullish activity.

The token has fluctuated between $3.40 and $3.65 in recent sessions, reflecting uncertainty after attempts to surpass the $4 barrier. Current trading data from CoinMarketCap shows SUI priced at $3.50 with a 24-hour trading volume of $1.32 billion. Martinez stated that maintaining $3.17 is essential for sustaining long-term strength and a potential rebound.

Source: Butterfly_Charts(X)

Butterfly_Charts observed that “SUI is forming a perfect ascending triangle on the daily chart. This structure shows bulls defending the ascending support beautifully, momentum is building fast. Once the breakout confirms, SUI could absolutely ROCKET to new highs.”

On-Chain Data and Market Outlook

According to CryptoQuant data, SUI’s Spot Taker Cumulative Volume Delta has remained negative since mid-July, showing sellers dominate short-term trading activity. This metric indicates sell orders are outweighing buy orders, supporting the recent weakness observed in price.

Despite selling pressure, fundamentals remain positive. Messari analyst Jake reported that Sui’s market cap rose 31% quarter-over-quarter to $9.44 billion. Sui’s DeFi total value locked also increased by 44.3% to $1.76 billion, while daily decentralized exchange transactions reached five million.

Institutional support continues to build with integrations such as AMINA bank and Fireblocks, alongside the launch of Grayscale SUI Trust. These developments enhance infrastructure and credibility, potentially aiding future rallies once technical support stabilizes.

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