- SUI holds a strong macro uptrend despite its recent weekly 12.32% price decline.
- Key support at $3.00-$3.20 may attract buyers if bearish pressure continues.
- Break above $4.50 could trigger a sharp rally and revisit the $5.00 resistance.
Sui (SUI), the high-speed Layer-1 blockchain token, saw its price dip today despite maintaining a broader uptrend on longer timeframes. As of press time priced at $3.68, SUI has recorded a 4.41% loss over the past 24 hours and a more significant 12.32% drop over the last week.
Despite these setbacks, the project’s market cap remains strong at over $12.2 billion, supported by a circulating supply of 3.3 billion tokens. While short-term volatility has impacted recent trading sessions, market indicators suggest there’s more complexity beneath the surface than a simple downtrend.
Price Movement and Market Sentiment
SUI’s recent price action reveals a pullback from its sharp rally above the $5.00 mark. That rally, driven by heightened investor interest and broader market enthusiasm, marked a significant breakout. However, the momentum was short-lived. Sellers took over, and the price retraced below $4.00, where it’s currently consolidating.
Despite the recent slide, the macro trend remains tilted upward. SUI continues to form higher highs and higher lows on the weekly chart. This indicates that the long-term structure hasn’t been broken, and buyers could re-enter at key support zones.
Key Support and Resistance Zones
The first critical support to watch lies between $3.00 and $3.20. This level served as previous resistance and may now offer a strong price floor. Below that, the $2.20 to $2.50 range acted as a base during earlier accumulation phases. This zone could absorb any deeper pullbacks. If bearish pressure continues, $1.00 to $1.20 remains a psychological and historical support level.
On the upside, resistance is stacked between $4.20 and $4.50, a region that recently saw heavy selling. A clean break above this zone could push the price to retest the $5.00 high. Beyond that, price discovery may lead to sharp, unpredictable movements due to a lack of prior data.
Technical Indicators and Trend Outlook
The MACD still shows bullish momentum, with the MACD line slightly above the signal line. However, the gap is narrowing. A crossover could hint at further downside. The RSI, standing at 56.31, sits in neutral territory but leans toward the overbought zone.
