SUI Experiences 6.64% Decline After Rejection at $3.95
SUI is currently trading at $3.6292, with a 1.34% uptick noted by Crypto Man MAB. After reaching a high of $3.9599, SUI faced strong resistance, resulting in a 6.64% decline over the past day.
SUI Uptrend Peaks At $4.20 Before Sharp Reversal
From May 20 to May 23, SUI had an uptrend peaking at $4.20, but it experienced a sharp reversal due to heavy selling pressure, leading to profit-taking and market concerns.
- Trading volume peaked during sell-off at 462.57 million USDT, indicating significant market activity.
- SUI is testing support between $3.6000 and $3.6500; breaking this level may lead to further losses down to $3.5233.
Market Sentiment: Fear Or Opportunity?
- Bearish signals dominate as SUI struggles to maintain levels above $3.8000, with a 5.62% drop over the past week.
- If the $3.6000 support holds, a rebound towards $3.8000 may occur, suggesting potential buying opportunities.
- 30-day gain stands at 20.29%, while the 90-day gain is 5.90%, indicating overall positive trends despite short-term declines.
In summary, SUI is at a critical point: a drop below $3.6000 could signal more downside, while a bounce from this zone could indicate recovery supported by increased volume.
