SUI has been maintaining a consolidation range recently, with prices trading between the 50-day moving average and the 200-day moving average. On one hand, the market sees the support provided by the foundation's continuous repurchases, while on the other hand, it is observing whether buying pressure can push prices above the resistance levels.
The repurchase volume has exceeded 609,800 coins.
It is reported that within Sui Foundation, the number of SUI tokens repurchased has exceeded 609,800. The funds for this program do not come from external financing, but rather from on-chain earnings generated by the native stablecoin, which are used to reclaim tokens in circulation from the public market.
On September 5th, the foundation purchased an additional 8,000 SUI coins in a single day. Based on the data provided in the text, the current value of the repurchased assets is approximately $490,000.
This approach is different from the common practice of buying tokens after financing. Since the funds come from on-chain earnings, repurchases do not directly lead to additional equity or token dilution. However, repurchases alone do not necessarily drive prices upward continuously; market reactions still depend on actual demand, liquidity, and changes in selling pressure.
$0.965 becomes a key level above
From the perspective of price structure, SUI is currently below the 200-day moving average of $0.9650, while it is above the 50-day moving average of $0.7455. This indicates that the price is still in a state where medium-term pressure and short-term recovery coexist.
If subsequent buying pressure strengthens and drives the price to stabilize above $0.9650, the upward target of concern for the market will first be $1.05, and further gains could potentially reach $1.6009. The premise is that the price can be maintained above this level without a rapid decline afterward.
The support below still needs to be maintained.
If the selling pressure continues to suppress any rebound, SUI may fall below the 50-day moving average around $0.7455 again. In that case, the support level of $0.6615 formed in June will be tested once more.
Currently, $0.7455 and $0.9650 form a relatively clear observation range. Maintaining the lower boundary means that the current corrective structure has not yet been broken; if it can once again reach the upper boundary, there will be a greater chance for the daily trend to strengthen.
Overall, the foundation's repurchase provides a relatively positive fundamental signal for SUI, but whether the price can continue to rise depends on whether market demand can truly absorb the upward pressure.
