SUI/USD rebounds 50%: Why the $2.92 resistance wall must be conquered

Drew Dosek Verified Investing

SUIUSD, like most of the crypto sector, faced severe pressure last Friday, slamming down over 40% from a high of $3.48 to a low of $2.00. Since then, price action has shown impressive resilience, recovering over 50% of that drop and now trading at the $2.80 area.

Technical analysis reveals that this bounce has immediately run head-first into a formidable confluence of resistance trendlines. Specifically, price is fighting a horizontal trendline at $2.83 (a previous pivot from March 2025) and a declining trendline from the 2025 high, which sits around $2.92 today.

This tight $2.83–$2.92 zone is the immediate battleground for the bulls. A decisive close above $2.92 would signal a successful conquest of this resistance, opening a clear path to re-test the Friday high of $3.50 and eventually targeting the potential at $3.96, the next declining trendline.

For the bears and disciplined long-term buyers, the key level to monitor is the long-term low support. The lowest pivots connect to form the inclining trendline on the chart at $2.03. Should price reject the $2.92 resistance and retest this inclining trendline, the $2.03 zone would represent an ideal, high-conviction entry or an opportunity to add to a position.