SUI's Price Fate Hinges on $3.15 Support Showdown

Sui (SUI) is currently navigating a pivotal phase in its price trajectory, with analysts closely watching key technical levels that could trigger a significant breakout. The cryptocurrency has been consolidating within a descending triangle pattern, a classic formation that often precedes a major volatility event. The critical support level at $3.15–$3.20 is now under scrutiny, as a successful defense of this floor could catalyze a rally toward $5.00 and eventually $10.00, representing a nearly threefold increase from its current price of approximately $3.30 [1].

Technical indicators suggest that the market is in a balanced state, with the MACD line sitting just below the signal line and the RSI hovering near 43, indicating a neutral-to-bearish stance. While the histogram remains close to neutral, it does not suggest strong selling pressure, leaving room for a potential bounce if buyers regain control. This balance point makes SUI particularly susceptible to rapid sentiment shifts following a key price movement [1].

Open interest figures highlight the anticipation within the derivatives market. As of recent data, total open interest in SUI stands at approximately $780 million, with major positions concentrated on exchanges such as Binance and Bybit. The relatively broad distribution of these positions indicates strong participation across multiple platforms, although open interest has slightly declined by 0.55% over the last 24 hours [1].

Analysts also point to the potential impact of SUI’s recent fundamental developments. The launch of an AI Coding Assistant in partnership with Alibaba Cloud is viewed as a possible catalyst that could drive buyer interest and reinforce the token’s bullish case. This innovation may enhance scalability and developer accessibility, further solidifying SUI’s position in the broader blockchain ecosystem [1].

On the institutional front, SUI is gaining traction, with custodial services from Swiss banks like Sygnum and Amina Bank adding credibility and accessibility. These developments are considered to be significant drivers of long-term growth, as they bridge traditional finance with blockchain technology. The token currently commands a market capitalization of nearly $11.8 billion, supported by a circulating supply of 3.6 billion tokens [3].

Despite these positive developments, challenges remain. A major token unlock event involving 44 million SUI tokens—equivalent to 1.25% of the circulating supply—is scheduled to occur soon. Historical precedents suggest that such unlock events can lead to sharp price declines, as seen in other assets like Aptos and Arbitrum. Investors are advised to monitor how the market reacts to this event, as it could either absorb the increased supply or exacerbate downward pressure [3].

Looking ahead, the immediate price targets for SUI are set at $3.75 in the short term (one week) and a range of $3.40–$3.85 over the next 30 days. To achieve these targets, SUI must first break above the 20-period Simple Moving Average at $3.59. Failure to hold above this level could lead to a retest of the $3.21 support, with a breakdown potentially targeting lower levels such as $2.63 [5].

In summary, SUI is at a critical juncture, with its price action poised to either confirm a bullish breakout or signal a deeper correction. Traders and investors are advised to closely monitor key technical levels and market sentiment, particularly around the upcoming token unlock event and potential catalysts like the AI collaboration with Alibaba Cloud. With over $780 million in open interest and growing institutional adoption, the next few weeks could be decisive in determining SUI’s next move.

Source: [1] SUI Tests Its Make-or-Break $3.15 Support (https://coinedition.com/sui-price-make-or-break-pattern-10-dollar-target/) [2] SUI Tests Its Make-or-Break $3.15 Support; Breakout Being Next (https://cryptorank.io/news/feed/46702-sui-price-make-or-break-pattern-10-dollar-target) [3] Key Insights, Token Unlock Impact, and Ecosystem Growth (https://www.okx.com/learn/sui-sui-price-token-unlock-impact) [4] Avalanche, Ethereum & SUI Ranked Best Crypto to Buy (https://crypto-economy.com/avalanche-ethereum-and-sui-ranked-best-crypto-to-buy-before-october-breakout/) [5] SUI Price Prediction: Target $3.75 Within 7 Days as (https://blockchain.news/news/20250831-price-prediction-target-sui-375-within-7-days-as-technical)