SUI Price Analysis: There is resistance at $2.66, but short-term market sentiment has improved.

Gate News bot news, according to the technical analysis model from CoinDesk Research, the trading price of SUI is $2.6481, having fallen by 2.03% in the past 24 hours. Previously, SUI rebounded from the support level of $2.58 to $2.60 during the trading period from June 26 to 27.

The rebound occurred after a significant fall from $2.70 to $2.58 during the trading session, but the increase in trading volume and the market sentiment related to institutional investor interest provided support.

An important development comes from Lion Group Holding Ltd. (LGHL). The company announced on June 26 that it plans to acquire SUI tokens as part of its $600 million cryptocurrency funding strategy.

The Nasdaq-listed company headquartered in Singapore confirmed in a press release the acquisition of HYPE tokens for $2 million, with an average price of $37.30, marking the first strategic acquisition under the plan. The company also stated it plans to use future proceeds from its convertible bond financing to acquire SOL and SUI.

CEO Wilson Wang described HYPE as "a foundational execution priority asset" and stated that LGHL considers it a core infrastructure for the future of capital markets. The company plans to use at least 75% of the net proceeds from its convertible instruments after each closing for token repurchases, including SUI, while the remaining funds will be used for broader cryptocurrency operations and working capital.

Lion Group operates a multi-asset trading platform, providing total return swaps (TRS), contracts for difference (CFD), over-the-counter stock options, as well as securities and futures brokerage services.

Before this announcement, the activity in the SUI ecosystem had increased, including strong buying pressure at the $2.60 level and a V-shaped rebound with increased trading volume towards the end of the session, which pushed the token closer to its current price. Analysts remain cautious, noting that there is resistance around $2.66, but short-term market sentiment seems to have improved.

Technical Analysis Key Points

The 24-hour trading range for SUI is $2.58 to $2.70, with a fall of 4.5% from peak to trough. On June 26 at 21:00 UTC, SUI formed a temporary bottom at $2.58, followed by signs of accumulation. On June 27, UTC time 09:00-11:00, SUI encountered multiple resistance lines around $2.66, confirming the short-term resistance level. From 07:51 to 08:24 UTC on June 27, SUI showed a slight bullish rebound pattern, rising from $2.61 to $2.63, an increase of 0.9%. From June 27, 01:00 to 08:00 UTC, SUI has seen a series of rising lows, indicating that momentum is gradually shifting. Starting from the recovery phase at 08:00 UTC on June 27, the trading volume surged to 18% of the 24-hour average, consolidating the support level of $2.60.