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.