SUI Token Drops 6.07% Amid Bearish Momentum

SUI, a Layer 1 blockchain token, has experienced a significant decline, trading at $3.47 with substantial selling pressure in the market. The token saw a sharp 6.07% drop as bearish momentum intensified across digital assets. Technical indicators currently present a mixed outlook for SUI's immediate future, with the token trading below its 20-day simple moving average, indicating weakening bullish sentiment. Bollinger Bands have widened, signaling increased market volatility and uncertainty. The Relative Strength Index sits at 40.67, just above oversold territory, suggesting reduced buying interest among investors. MACD indicators have crossed below the signal line with a growing negative histogram, confirming strengthening bearish momentum. If SUI fails to maintain support above the $3.30 level, further downside could target the psychological $3.00 mark.

Despite the correction, several crypto analysts maintain optimistic outlooks based on chart patterns and support levels. Cryptocurrency trader Sjuul from AltCryptoGems emphasized that SUI’s correction represents consolidation within a clear uptrend rather than a complete breakdown. The analyst pointed to a critical green support zone that could determine the token’s next directional move. Maintaining this support level would keep higher price targets achievable according to the technical assessment. CryptoED noted that SUI displays one of the strongest chart patterns in the current market environment. The trader highlighted how the SUI price broke out of a long-term downtrend and successfully flipped key resistance into support. Volume patterns suggest accumulation is occurring during the current consolidation phase.

Momin Saqib acknowledged the market structure challenges but praised the SUI ecosystem’s fundamental stability. The foundation team has demonstrated strong support for developers and builders within the network. This backing has enhanced community trust and could provide underlying strength during market corrections. The analyst expects some additional downside pressure due to broader market conditions but remains positioned to add exposure at specific technical levels. Foundation support for ecosystem development continues attracting long-term focused participants. Strategic buying opportunities may emerge if SUI price reaches marked support zones. Several analysts project the SUI price could target $4.50 and eventually $5.00 if current support levels hold firm. Stochastic RSI indicators are showing bottoming patterns while traditional RSI begins turning upward from oversold conditions. These momentum shifts could signal the beginning of the next upward movement.