Sui price tests $1.66 neckline after double bottom at $1.32

Sui’s token has carved out a double bottom near $1.32 after several weeks of declines, and market participants are watching the $1.66 area for a potential break that would bring $2.19 into view.

The daily chart has shown a pattern of lower highs and lower lows in recent weeks. Price tested the $1.32 level twice and bounced, creating a common reversal setup if the neckline clears. The $1.66 region has capped rebounds repeatedly and aligns with an area where sellers have been active, making it a key reference for trend confirmation.

A daily close above $1.66 with stronger buy volume could indicate that selling pressure is easing and open room to retest resistance near $2.19, a level that has acted as a barrier in prior trading. A push through $1.66 may prompt covering of short positions and draw new long interest, shifting the chart structure toward higher highs and higher lows.

If price fails to close above $1.66, Sui may continue to trade between $1.32 and $1.66. A clear drop below $1.32 would keep the downtrend intact on the daily timeframe.

Network developments have accompanied the recent price action. Sui introduced USDsui, a stablecoin designed for on-chain commerce, and upgraded its Mysticeti v2 consensus engine. Neither update has led to an immediate price reaction while the token traded around support.

For now, attention remains on whether Sui can secure a decisive daily close above $1.66 to validate the double bottom pattern. If that level is reclaimed, traders point to $2.19 as the next significant resistance based on past activity.

As we reported earlier, SUI Group Holdings agreed to lend 2 million SUI to Bluefin, a Sui-based exchange, in return for a 5% revenue share paid in SUI, with the aim of boosting liquidity and attracting hedge funds, asset managers and market makers. Bluefin cites over $82 billion in cumulative volume, $34 million in fees and 2.3 million accounts, with lending markets introduced in May 2025 holding about $150 million in TVL and Vaults deposits above $90 million. Both firms say the partnership is structured to support institutional activity on Sui.