As of January 28, SUI is consolidating near $1.43 after topping around $2.00 earlier this month. The token remains below all major moving averages (SMA 20, 50, 100, 200), with a clear sequence of lower highs and lower lows, as per TradingView. Sellers continue to dominate, suggesting the downtrend may persist in the short term.

The MA ribbon is a barrier of resistance in the $1.44–$1.48 range, and the tightening Bollinger Bands indicate a sharp sell-off. A touch of price rejection at the BB basis may lead to further selling pressure, targeting the immediate support at $1.39–$1.40.

Further selling pressure may continue down to $1.35–$1.32, whereas any relief moves will be limited in the $1.47–$1.48 range. For a trend reversal, a reclaim of the $1.62–$1.63 range is a requirement.

Also Read: SUI Falls 2% to $1.43 as Privacy Upgrade Sparks $1.70 Bull Case

Technical Indicators Suggest Fading Bearish Momentum

TradingView data shows RSI stuck in the 41 region, which is below the neutral 50 but above the oversold 30. That’s not a sign of strong selling pressure, but rather diminishing bearish momentum. The recent pop from the low 30s is a sign of stabilization, but a strong bullish move still hasn’t been seen.

The MACD is at around 0.003 on the histogram. The MACD line is at -0.0156, and the signal line is at -0.0187. The positive MACD histogram indicates that the selling pressure is likely to ease.

The convergence of the MACD and signal lines is also a hint that the trend may change. Analysts recommend that important support and resistance levels should be monitored.

River’s satUSD Boosts Sui Liquidity

Despite the struggling market value, the Sui network is expanding its institutional adoption. River has launched a stablecoin called satUSD, which is a chain-agnostic stablecoin on the Sui ecosystem.

This enables liquidity from other chains to be released into the Sui blockchain without the need for a wrapped token. This enables DeFi users and developers to access the capital smoothly.

SatUSD will integrate itself into Sui’s DeFi protocols. This stable asset is also certain and predictable. Sui’s parallelization enables fast execution. This means that funds can be deployed in an instant. This is a big step forward for the financial backbone of the network. This has the potential to increase trading activity.

Why This Matters

The live launch of satUSD may also have a positive effect on the token liquidity and trading activity. This may have a positive impact on the short-term market momentum.

Traders and developers have access to capital across chains in a more efficient manner. This may result in higher adoption of the network and the discovery of new on-chain opportunities.

Also Read: SUI Holds $1.40 Support as Price Eyes $1.52–$1.68 Upside Targets