SUI Drops 3.8% to $2.69, Tests Support Levels

SUI, a prominent digital asset, is currently trading at $2.69 following a 3.8% daily decline. Despite this drop, the asset has maintained its position near immediate support levels without breaching the lower bound. The resistance level remains firm at $2.84, creating a tight 24-hour trading range with moderate activity levels. This price behavior has sparked interest in the broader market, particularly in relation to comparative market capitalization analysis.

According to available data, if SUI’s market capitalization were to match that of Solana, which is currently ranked 6th, then SUI’s price would theoretically sit at $22.98. This projection is based on Solana’s current market valuation of $77.98 billion, while SUI’s stands at approximately $9.39 billion. Although these values are distinct, the comparison has ignited broader market discussions. Traders, however, remain focused on real-time price behavior and technical zones.

Following the 3.8% pullback, SUI continues to test its immediate support level around $2.69. This level now represents the lower bound of the 24-hour trading range. Although the token briefly moved toward this floor, it has not yet closed below it. This behavior suggests buyers remain active near the base. Furthermore, BTC-pairing metrics reflect an increase of 4.3%, showing relative strength against Bitcoin despite USD declines.

The movement within this confined range sets the stage for potential fluctuations. Moreover, volume appears balanced without excessive spikes, indicating measured activity throughout the session. The next move depends on interaction within this band. While price action remains steady near the support, traders also identify the $2.84 mark as the current resistance zone. This ceiling marks the upper limit of the recent range. Notably, multiple hourly candles failed to break or close above this threshold.

With both support and resistance levels firmly defined, SUI’s trading path continues to stay within a narrow corridor. The next move depends on interaction within this band. According to CoinGecko’s estimation, a market cap equal to Solana’s would place SUI at $22.98. That figure reflects an 8.3x increase over its current level. Although the comparison remains hypothetical, it emphasizes the gap between rankings #6 and #16. Still, price action and market behavior remain focused on the present. The token trades within established zones without unusual volatility or trend breakouts.