Sui (SUI) remained under selling pressure currently, extending its short-term decline as bearish technical signals continued to dominate market structure. SUI was seen trading around $1.10 in the latest market session, registering a 4.31% decline in the last 24 hours, as per CoinGecko.
At the time of writing, SUI was seen trading with a daily volume of $1.43 billion, while its market capitalization was seen trading near $4.22 billion, which is approximately 0.17% of the total cryptocurrency market. Despite the high trading volume, market price trends showed little signs of sustained buying pressure.
Technical Analysis Indicates Ongoing SUI Weakness
According to a technical analysis provided by More Crypto Online, SUI is seen testing key Fibonacci support levels as the overall downtrend remains in play. The 61.8% retracement level is seen at $1.20, while a broader support range is indicated between $0.91 and $1.70. These levels have been determined using a variety of techniques, including retracement analysis and comparisons between the A-wave decline and the current C-wave structure.
Other larger cryptocurrencies like Bitcoin, Ethereum, and Solana continue to stay above their April 2025 lows, token has fallen below that level, indicating relative weakness. Analysts believe that the current fall could be the start of the fifth wave in a bearish market cycle, with no short-term bottom yet in place.
On a more conservative outlook, the downside targets continue to be pegged near $0.915, in line with extension levels. A direct fall would continue to support the bearish thesis. While a bounce is possible, analysts believe that a confirmed five-wave move would be required before any thoughts of a reversal could be considered. Until then, rebounds are expected to remain corrective, with resistance clustered between $1.81 and $2.55.
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SUI Risks Extend Toward $1.00
Looking at the SUI/USDT chart, the price has continued to fall after breaking below a descending trend line and failing to regain the previous consolidation range. The pattern indicates distribution rather than accumulation, with lower highs continuing to form.
As long as token is below the $1.32-$1.35 resistance level, the risks of a fall continue to be high. A test of the $1.00 psychological level is also possible, where a long-term support could form.
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