Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Solana (SOL) and Sui (SUI) Find Strong Support: Are These Prime Buy Zones?

Solana (SOL) and Sui (SUI) Find Strong Support: Are These Prime Buy Zones?

Cryptodaily2025/07/31 16:00
By: Laurie Dunn
BTC-0.94%SOL-0.83%SUI-0.95%

While it might still be too early to tell, Bitcoin (BTC) could be getting ready for a bounce after finding support at the bottom of its bull flag. Strong altcoins $SOL and $SUI are excellent candidates for their own bounces. Are they in prime buy zones?

$SOL hits horizontal support together with 0.5 Fibonacci level

Solana (SOL) and Sui (SUI) Find Strong Support: Are These Prime Buy Zones? image 0

Source: TradingView

The 4-hour chart for $SOL does look very good. The price is currently resting on the strong horizontal support at $168, while a small wick down to test the 0.5 Fibonacci level has successfully taken place. Looking at the Fibonacci extension levels it can be seen just how accurately the price is respecting them.

At the bottom of the chart, the Stochastic RSI has its indicators at the bottom, ready to rise and bring upside momentum into the price. At the same time, the Relative Strength Index (RSI) reveals that the indicator has just dipped into oversold territory. If one looks left on the chart, the last big rally out of oversold territory can be observed. Is another one of these inbound?

Positive price action badly needed for $SOL going into this weekend

Solana (SOL) and Sui (SUI) Find Strong Support: Are These Prime Buy Zones? image 1

Source: TradingView

The weekly time frame does hold some concerns for the $SOL price going forward. In the price action, the current weekly candle has dipped below the ascending trendline (although it is still holding support), and it is enveloping the previous candle. In the Stochastic RSI at the bottom of the chart it can be seen that the indicators are posturing to cross back down.

What will be needed in order to cancel out these negatives is some good, positive price action going into the weekend. With all the short-term Stochastic RSI indicators at the bottom and ready to rise, this could still be a decent prospect.

$SUI ripe for a bounce

Solana (SOL) and Sui (SUI) Find Strong Support: Are These Prime Buy Zones? image 2

Source: TradingView

Like $SOL, the $SUI price is currently resting on top of strong horizontal support. With the shorter term Stochastic RSI indicators all bottomed, it would appear that $SUI could be ripe for a bounce. One concern on this time frame is that the price has fallen through the ascending trendline. That said, if the expected bounce does arrive, this should be surmounted without too much problem. The resistances at $3.75 and $4 are likely to cause a lot more difficulty. Be aware that there could also be a quick candle wick to $3.40 if the market does come back down again.

$SUI bulls have much to do 

Solana (SOL) and Sui (SUI) Find Strong Support: Are These Prime Buy Zones? image 3

Source: TradingView

Again, much like the case for $SOL, the Stochastic RSI indicators on the weekly time frame are threatening to cross down. Furthermore, the current weekly candle is also very much enveloping the previous one. Both of these bearish factors will need to be cancelled out over the next couple of days or so as we enter the weekend. 

Therefore, it might be said that a really strong bounce is required. If such a bounce does occur, and this weekly candle can close above $4, the next week of price action could be very favourable. However, if this doesn’t come to pass, nerves might continue to shred. Let us see what the end of the week brings.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

ETH’s run vs. BTC: Finished, or early days?

Any indication the FOMC is less dovish than anticipated could weigh on crypto, industry watcher says

Blockworks2025/09/17 12:39

Trending news

More
1
Bitcoin price gains 8% as September 2025 on track for best in 13 years
2
Ethereum unstaking queue goes ‘parabolic’: What does it mean for price?

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,650.52
+0.46%
Ethereum
Ethereum
ETH
$4,491.13
+1.31%
XRP
XRP
XRP
$3.02
-0.20%
Tether USDt
Tether USDt
USDT
$1
+0.04%
BNB
BNB
BNB
$948.93
+2.52%
Solana
Solana
SOL
$234.65
+0.50%
USDC
USDC
USDC
$1.0000
+0.01%
Dogecoin
Dogecoin
DOGE
$0.2648
+1.64%
TRON
TRON
TRX
$0.3403
-0.80%
Cardano
Cardano
ADA
$0.8659
+0.41%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter