{"id":92963,"date":"2025-09-02T04:01:37","date_gmt":"2025-09-02T04:01:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=92963"},"modified":"2025-09-02T04:01:37","modified_gmt":"2025-09-02T04:01:37","slug":"sui-eyes-3-90-as-supply-shrinks-and-bulls-defend-crucial-support","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=92963","title":{"rendered":"SUI Eyes $3.90 as Supply Shrinks and Bulls Defend Crucial Support"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

SUI is trading near $3.20 support with targets set at $3.53 and $3.90 if held.
\nA falling wedge pattern may lead to a reversal, but breakout confirmation is still missing.
\nOver 1.9M SUI removed from circulation as token burns and freezes continue rising fast.<\/p>\n

Price Action Near Key Support<\/h2>\n

After reaching a high of $3.90 earlier in August, the token has pulled back and is currently priced around $3.18 to $3.28 (Coingecko data). Analysts are closely tracking the $3.20 support, which has held several times before.<\/p>\n

SUI has seen multiple short-term rallies from the $3.20 area. The most recent one reached $3.53, and earlier this month, it moved as high as $3.90. Each move upward<\/a> has been followed by lower highs, which may suggest weakening buying momentum.<\/p>\n

Crypto analyst BitGuru stated that if the $3.20 level holds, \u201cbuyers could step back in, targeting $3.53 first and potentially a run toward $3.90 again.\u201d However, he also warned that \u201closing $3.20 might invite deeper downside pressure.\u201d<\/p>\n

$SUI<\/a> is trading at $3.23, holding near short-term support after multiple pullbacks.<\/p>\n

If this level holds, buyers could step back in, targeting $3.53 first and potentially a run toward $3.90 again. Losing $3.20, however, might invite deeper downside pressure. pic.twitter.com\/ZBGUQrjXtq<\/a><\/p>\n

\u2014 BitGuru (@bitgu_ru) September 1, 2025<\/a><\/p>\n\n

At present, the token is sitting just above or around this critical level. A breakdown may lead to further selling unless a quick recovery follows.<\/p>\n

Falling Wedge Formation Signals Possible Shift<\/h2>\n

Another chart shared by Gordon shows SUI trading inside a falling wedge pattern. This structure is often linked to potential trend reversals when confirmed<\/a> by a breakout.<\/p>\n

Notably, the support level at $3.18 has held several times. In a previous wedge, the price broke out and continued higher. A similar setup is now forming.<\/p>\n

Still, the price has not yet broken above the descending trendline. Gordon suggested a possible long-term move, stating<\/a>: \u201cWe will revisit this at $10,\u201d though no timeline was given.<\/p>\n

The setup remains open-ended. Price must break the wedge before a new upward trend can be confirmed.<\/p>\n

Onchain Activity Adds Supply Pressure<\/h2>\n

Data from Sui Intern shows<\/a> that SUI has now passed 285 million accounts, reflecting steady network growth. At the same time, on-chain data from @eyezenhour points to over 1.9 million SUI removed from circulating supply due to burns and freezes.<\/p>\n

According to the post, token burns are linked to gas usage and validator rewards. Freezes come from staking and system-level locks. The post added<\/a>:<\/p>\n

\u201cThe less there is to sell, the harder it is to stop a move once it starts.\u201d<\/p>\n

This reduction in float may add pressure to price over time, especially if demand continues to rise.<\/p>\n

The post SUI Eyes $3.90 as Supply Shrinks and Bulls Defend Crucial Support<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SUI is trading near $3.20 support with targets set at $3.53 and $3.90 if held. A falling wedge pattern may lead to a reversal, but breakout confirmation is still missing. Over 1.9M SUI removed from circulation as token burns and freezes continue rising fast. Price Action Near Key Support After reaching a high of […]<\/p>\n","protected":false},"author":0,"featured_media":92964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-92963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/92963"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=92963"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/92963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/92964"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=92963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=92963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=92963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}