$SUI 🌊 SUI’s $1.75 Recovery: Testing the Oversold Resistance

Sui (SUI), currently trading at $1.41, is eyeing a push toward the $1.75 resistance level, representing a potential 24.1% upside. This $1.75 target is technically vital as it aligns with the 20-day SMA ($1.58) and the upper boundary of its current Bollinger Band range, which has acted as a firm ceiling throughout December’s 12% slide. Reclaiming $1.75 is essential to invalidate the "falling knife" momentum and flip the sentiment from its current oversold RSI (near 29) back toward a bullish structure targeting the $2.10 macro resistance zone.

The momentum for this rally is fundamentally anchored by institutional validation, specifically the Bitwise Spot SUI ETF filing (Dec 18) and the launch of the EV Rewards System by DLP Labs, which utilizes Sui for real-world data monetization. Despite broader market "risk-off" sentiment and pressure from a $77M upcoming token unlock, Sui’s DeFi ecosystem remains resilient, with Bitcoin-linked DeFi (BTCfi) now accounting for 10% of its total value locked. To reach $1.75, SUI must first decisively flip the immediate $1.52 resistance into support and maintain its base above the $1.31–$1.41 Fibonacci floor. Successfully holding $1.75 would signal that the market has fully priced in recent supply fears and is ready for a year-end trend reversal.