SUI Price Momentum Builds as Buybacks Top 600K

SUI is currently sitting in a tight spot on the charts as it trades between two major moving averages. Investors are keeping a close eye on the 200 day exponential moving average near $0.9650 and the 50 day moving average near $0.7455. The price action remains stuck in this range, leaving the market waiting for a clear direction.

Adding to the activity, the Sui Foundation has successfully completed buybacks totaling over 609,800 tokens. This consistent buying pressure is creating interest among holders who hope it will act as a floor for the asset. If the price can gain enough momentum to push past the $0.9650 barrier, analysts believe the next target on the horizon could be $1.60.

While the buyback numbers provide a positive signal for the project, the broader chart still needs to show more strength to confirm a recovery. Traders should keep an eye on volume and support levels to see if the recent interest from the foundation can finally help SUI break out of its current consolidation phase.