SUI Price Eyes $1.60 as Buybacks Cross 600K

SUI price is stuck between two major EMA bands, while the Sui Foundation’s buyback program has crossed 609,800 tokens. The setup offers a potential recovery, but the chart still needs convincing evidence.

SUI Price Needs To Clear $0.9650

SUI price is trading between the 200-day EMA near $0.9650 and the 50-day EMA around $0.7455. That leaves the token caught between long-term bearish pressure and a possible recovery.

If bullish demand strengthens, SUI needs to sustain above $0.9650. A successful break could turn the daily trend bullish and open the way toward $1.05, followed by $1.6009. That’s the optimistic case. But, it still requires buyers to defend the breakout.

SUI Buybacks Cross 609,800 Tokens

The Sui Foundation has now surpassed 609,800 SUI in year-to-date buybacks, according to the supplied BSCN update. The program uses native stablecoin yield to reclaim circulating supply from the open market.

On September 5, the foundation acquired another 8,000 SUI in a single day. The buyback treasury is currently valued at approximately $490,000.

The program is funded entirely by onchain yield, avoiding traditional dilutive funding rounds. That gives the accumulation effort a different structure from a typical token purchase funded through new capital.

Still, buybacks don’t automatically create a price rally. The market response depends on demand, liquidity and whether sellers continue to dominate.

SUI Price Risks Losing Its Lower Support

The bearish scenario is straightforward. If sellers suppress the recovery, SUI price could break below the 50-day EMA near $0.7455.

That would put the June support at $0.6615 under pressure. A loss of that level could weaken the current recovery and expose the token to further downside.

For now, SUI price has a clear decision zone. Holding above $0.7455 keeps the recovery structure intact, while reclaiming $0.9650 could shift the daily trend toward bullish territory.

The buyback program adds a positive fundamental development, but SUI price still needs to prove that demand can overcome resistance. A move toward $1.05 and $1.6009 remains possible if the breakout holds.