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SUI tests $1.71 resistance, structure is taking shape

2026-10-09 06:46:30
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SUI is still in the main resistance range, with $1.36 and $1.42 constituting key structural barriers.

SUI is currently still in the main resistance range, of which $1.36 and $1.42 are important structural checkpoints. Downward pressure has pushed prices closer to around $1.18, a key level for the return of short-term recovery momentum.

Exchange capital flows show a mixed trend, with frequent Binance trading activities and significant capital inflows from several major trading platforms. The SUI is testing a significant resistance area between $1.02 and $1.71, while recent price weakness has left the emerging structure of the recovery in need of clearer confirmation.

Elliot wave structures face significant resistance

According to More Crypto Online analysis, SUI still stay in the resistance range of $1.02-$1.71. The analysis is based on trends in August after a rebound from deeper support. The article points out that existing waves are in the process of forming Elliot waves. Source: X

The trend line below is at the Fibonacci 23.6% retracement level of $1.03. Meanwhile, the 50% retracement level is at $1.71. These levels constitute a broad range of technical obstacles to current recovery.

Analysis shows that the current upward trend is similar to a three-wave structure. If a higher low is formed, a fourth wave in the series may be established. Another subsequent round of gains could complete a larger five-wave pattern. However, the recovery has not yet been confirmed as resistance continues to weigh on prices. As a result, the structure relies on gradually higher highs. Continued breakthroughs will provide better confirmation of further room for upside.

Price behavior shows short-term selling pressure

The first major checkpoint on the chart is around $1.36. Above it,$1.42 near the May band high becomes another important barrier. Breaking through these two levels will strengthen the developing wave structure. Source: Coinmarketcap

The $1.71 level is still a larger range of resistance that ultimately needs to be confirmed. This is the most important step in getting rid of marked areas. Therefore, the recovery is not yet complete.

This confirmation is still necessary in view of recent price movements. SUI had previously pulled back to about $1.24, and then fell again to $1.18. This volatility led to increased short-term selling pressure and lower highs.

https://cryptonewsland.com/wp-content/uploads/2026/04/EliteFXLabsBanner-0.webp

According to the latest market snapshot, the current price is around $1.19. Therefore, the $1.20 area remains an immediate reference point. Recovering this level could restore short-term momentum to move towards higher resistance.

Exchange activity sends cautious short-term signals

Exchange heat maps show active trading activity on multiple major platforms. During the display period, Binance recorded approximately US$2.96 million in transaction volume. Upbit, Bitget and OKX also registered a large number of events. Source: Coinglass

Net inflow data presents a more cautious picture of the real-time market landscape.

币安记录了约 71.9 万美元的净流入。Upbit 紧随其后,约为 35.7 万美元,Coinbase 接近 17.7 万美元。其他交易所显示出流量的梯度差异,而非均匀流动。Bitfinex 和 Bitget 分别报告了约 10.6 万美元和 9.2 万美元的流量。Gate 也记录了约 7.3 万美元的正向净流入。

衍生品活动的规模远大于现货周转额。期货成交量接近 11.2 亿美元,而现货成交量约为 2.27 亿美元。未平仓合约(Open Interest)也接近 9.7 亿美元,显示出大量的衍生品持仓。

综合数据表明市场处于重要的技术节点。守住 $1.18 可以保护正在发展的复苏结构。如果失去该区域,下方的支撑可能会打开;如果能重新收复 $1.20,其即时局势将得到改善。

$1.36 和 $1.42 是宏观艾略特波浪分析的主要目标。若这些走势得以延续,牛市结构将更加强劲。届时,$1.71 的屏障将成为判断是否继续上涨的决定性考验。

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