Michaël van de Poppe: SUI has bottomed out after surge

Analyst Michaël van de Poppe believes SUI has set its bottom. After a decline to around $0.65, the price rebounded sharply and now stands around $0.78. Van de Poppe had previously described the $0.65 level as an excellent entry point, and sees the recent rebound as confirmation of his analysis.

SUI is available at OKX and Bybit.

In brief:

• Van de Poppe states that SUI has reached its bottom after a rebound from the $0.65 level
• The price rose by almost 6% on the day of his analysis, to around $0.78
• Key resistance levels are at $0.7478 and $0.7828

Van de Poppe sees bottom at $0.65

In his analysis, Van de Poppe points to the price level around $0.65 as a strong support zone. According to him, that was the moment to enter, and the subsequent price movement proves him right: SUI rose by almost 6% on 21 August and traded around $0.7767.

On the chart, the price can be seen shooting up from the zone between $0.6514 and $0.6712 towards the resistance at $0.7828. Earlier, Van de Poppe had already written about his expectation that SUI would move towards $0.75 and $0.80, levels that are now coming into view.

Resistance around $0.78 is the next hurdle

The chart shows several resistance levels that the price now needs to pass. Directly above the current price are levels at $0.7478, $0.7269 and $0.7828. The latter level forms a zone where the price previously encountered resistance several times.

Whether the rebound continues depends in part on whether SUI manages to break through the resistance around $0.78. Trading volume increased sharply at the time of the rebound, lending extra weight to the move, but Van de Poppe’s assessment remains a personal analysis and not a guarantee of further gains.