SUI Crashes Into Crucial Support – Bounce or Breakdown Ahead?
Sui (SUI) has dropped to $1.66 following a 70% decline from its all-time high of $5.35. The latest transfer has drawn consideration from analysts, who level to indicators of compelled promoting and potential positioning reset.
With quantity rising and the worth reaching key ranges, merchants are watching to see if this marks the beginning of accumulation.
Price Tests Key Support Levels
Crypto Patel described the transfer as a “traditional capitulation flush,” noting that the $1.7 to $1 vary might be seen as an institutional accumulation zone.
“Forced liquidations full. Weak fingers out. Positioning reset,” he stated.
Patel additionally added {that a} shift in market liquidity may reopen the trail towards greater targets.
SUI is now testing a key help zone close to $1.65. Below that, the $1 to $0.9 vary is recognized as a deeper help. These zones have held earlier than and are being monitored intently. The value stability above these ranges may appeal to curiosity, whereas failure to carry might set off additional decline.
Trend Structure Remains Under Pressure
SUI continues to commerce inside a broader downtrend, with decrease highs forming since early 2025. Daan Crypto Trades noted that the $1.71 space must be recovered to substantiate a possible bounce. “Looking for this to retake the $1.71 space,” he posted, referring to that degree as key horizontal help on the upper timeframe.
SUI can also be sitting close to the decrease boundary of a long-term development channel. The final time the worth reached this line, it climbed over 1,000%. The similar degree is now being retested. A rebound from right here would hold the construction intact. A break under would shift the setup to a weaker outlook.
However, the weekly RSI is studying 35, sitting simply above the oversold threshold. This factors to ongoing weak spot, but additionally reveals that the asset is nearing an space the place previous reversals have shaped.
Meanwhile, the MACD stays in unfavorable territory with a bearish crossover nonetheless energetic. Red histogram bars are rising, which means that downward momentum is just not but easing.
These indicators level to a market nonetheless underneath stress. A shift in development would must be confirmed by energy in each value and momentum indicators.
While the token has struggled, exercise within the Sui ecosystem stays. Bluefin, a decentralized change constructed on Sui, noticed report quantity in October. Grayscale launched new funding merchandise tied to tasks on the community. As we reported final month, Sui additionally partnered with Figure Technology to launch the YLDS token, which is backed by short-term Treasurys and repo agreements.
The put up SUI Crashes Into Crucial Support – Bounce or Breakdown Ahead? appeared first on CryptoPotato.
