SUI Eyes $3.90 as Supply Shrinks and Bulls Defend Crucial Support

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 ￰0￱ 1.9M SUI removed from circulation as token burns and freezes continue rising ￰1￱ Action Near Key Support 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 ￰2￱ has seen multiple short-term rallies from the $3.20 ￰3￱ most recent one reached $3.53, and earlier this month, it moved as high as $3.90. Each move upward has been followed by lower highs, which may suggest weakening buying ￰4￱ analyst BitGuru stated that if the $3.20 level holds, “buyers could step back in, targeting $3.53 first and potentially a run toward $3.90 again.” However, he also warned that “losing $3.20 might invite deeper downside pressure.” $SUI is trading at $3.23, holding near short-term support after multiple ￰5￱ this level holds, buyers could step back in, targeting $3.53 first and potentially a run toward $3.90 ￰6￱ $3.20, however, might invite deeper downside ￰7￱ — BitGuru (@bitgu_ru) September 1, 2025 At present, the token is sitting just above or around this critical level.

A breakdown may lead to further selling unless a quick recovery ￰8￱ Wedge Formation Signals Possible Shift Another chart shared by Gordon shows SUI trading inside a falling wedge ￰9￱ structure is often linked to potential trend reversals when confirmed by a breakout. Notably, the support level at $3.18 has held several ￰10￱ a previous wedge, the price broke out and continued higher. A similar setup is now forming. Still, the price has not yet broken above the descending ￰11￱ suggested a possible long-term move, stating : “We will revisit this at $10,” though no timeline was ￰12￱ setup remains ￰13￱ must break the wedge before a new upward trend can be ￰14￱ Activity Adds Supply Pressure Data from Sui Intern shows that SUI has now passed 285 million accounts, reflecting steady network ￰15￱ the same time, on-chain data from @eyezenhour points to over 1.9 million SUI removed from circulating supply due to burns and ￰16￱ to the post, token burns are linked to gas usage and validator ￰17￱ come from staking and system-level locks.