Market Overview for Sui/Tether (SUIUSDT): Volatility Expands Amid Rebound

Summary
• SUIUSDT tested 1.7918 (support) and surged to 1.8344 (resistance), forming a bullish engulfing pattern near 1.80.
• RSI bottomed at 29 (oversold) and rebounded, suggesting potential for a short-term rebound.
• Volume spiked during the 1.7918–1.8344 move, confirming price strength amid expanding volatility.
• Price remains above 50-period MA on 5-min chart, indicating short-term bullish momentum.

SUIUSDT opened at 1.7985 on 2026-01-10 12:00 ET, peaked at 1.8344, hit a low of 1.7796, and closed at 1.8294 at 12:00 ET on 2026-01-11. Total 24-hour volume reached 11.18 million SUI, with a notional turnover of $2.06 million.

Structure and Momentum

Price carved a broad range between 1.7796 and 1.8344, forming a bullish engulfing pattern near 1.80 as it rebounded from the 1.7918 support level. The RSI indicator dropped into oversold territory (29) before surging past 50, signaling a potential short-term reversal. Price has remained above the 50-period moving average on the 5-minute chart, indicating ongoing short-term bullish bias.

Volatility and Volume

Bollinger Bands expanded as price pushed higher, with volatility peaking during the 1.7918–1.8344 swing. Volume spiked sharply during this phase, confirming price action and aligning with the rising RSI. Notional turnover increased in tandem with price surges, particularly during the late-ET rebound, suggesting strong institutional or large-cap participation.

Fibonacci and Key Levels

The 61.8% Fibonacci retracement of the 1.7796–1.8344 move sits near 1.8180, currently acting as a dynamic support/resistance level. Price’s consolidation above 1.80 and recent break above 1.8246 suggests a possible target of the 1.8344 swing high or even the next Fibonacci level at 1.8460 if the move extends.

SUIUSDT appears poised to continue its upward trajectory if it maintains above 1.80. However, a close below 1.8142 could trigger a retest of the 1.7918 level. Investors should watch for volume confirmation or divergence as price moves into key Fibonacci and Bollinger Band thresholds in the next 24 hours.