SUI News Today: SUI's $1.65 Support: Rebound Signal or Precipice of Decline?

Sui (SUI), the native token of the Sui blockchain, is drawing renewed attention as analysts highlight its resilience amid a broader crypto market slump. Technical indicators and on-chain data suggest the token is testing critical support levels that could determine its near-term trajectory. While the broader market remains in a bearish phase, SUI's price action has sparked debate among traders about whether it is setting up for a rebound or a deeper correction according to analysts.

The Sui token has maintained a key horizontal support zone around $1.65–$1.71 despite a 32% decline since early November, according to analysis from Sjuul, a crypto strategist at AltCryptoGems. This level has historically acted as a "launch zone" for upward moves, with the price repeatedly bouncing off the area during prior cycles. A recent 3-day chart review shows SUI forming long lower wicks near this support, signaling potential buyer interest. "The structure here is one of the cleanest examples of strength on a high-timeframe chart during a period of widespread weakness," Sjuul noted, emphasizing that holding above this zone could reinforce a bullish retest pattern.

Technical analysts are closely monitoring the $1.71 level as a pivotal decision point. DaanCrypto, a prominent market structure analyst, described it as "an important anchor for maintaining structural stability." If SUI reclaims this resistance, it could open the path to higher targets such as $1.73–$1.77, with a potential long-term goal of $2.00. However, a breakdown below $1.63–$1.65 would likely trigger a retest of the $1.35–$1.40 range, particularly if Bitcoin's volatility intensifies or liquidity in altcoins thins.

Ecosystem developments add nuance to the narrative. The launch of USDsui pushed Sui's total value locked (TVL) to $1.19 billion as of November 17. However, user activity has waned, with daily active users dropping to 400,000-the lowest since August. On-chain data shows capital rotation into lower-risk assets, though some analysts argue that TVL growth supports long-term ecosystem health even if short-term momentum remains fragile.

Technical indicators on SUI's weekly chart show a weekly RSI near 35 and a negative MACD, both signaling bearish momentum. These indicators underscore the risks of a breakdown if SUI fails to reestablish strength above critical levels.

The token's price structure remains under pressure within a descending triangle formed over nearly a year. Immediate resistance sits at $1.73, with secondary hurdles at $1.77 and $1.82. A sustained close above $1.69 could validate a bullish case, but volume confirmation will be critical. Meanwhile, declining user activity and bearish momentum indicators, including a weekly RSI near 35 and a negative MACD, underscore the risks of a breakdown.

Traders are advised to watch for confluence between price action and volume. A rebound above key moving averages (EMA20/EMA50) accompanied by rising volume could signal renewed buyer strength. Conversely, a daily close below $1.63–$1.65 would weaken the short-term structure, potentially accelerating the decline toward $1.35.

As of the latest data, SUI trades near $1.59–$1.62, with analysts divided on its immediate outlook. Changelly projects stabilization around $1.71, while CoinCodex anticipates a dip to $1.35 by November 20. The coming days will test whether SUI can maintain its structural integrity amid a market struggling to find direction.