SUI is trading at 3.01, marking an 8.28% decline over the past day. Although trading volume increased to $1.75 billion, a notable rise of 92.46%, this surge occurred simultaneously with a price decline, indicating robust selling pressure. In the last week, the token has lost 3.49%, struggling to maintain its value above $3.00.
According to cryptocurrency analysts, the bearish sentiment seems to be rising as SUI is traded below its important moving averages. The RSI indicator has dropped to 36.79 which is close to being oversold. Other technical indicators like MACD and DMI also show strong bearish trends. Sellers remained dominant in controlling the market. If the $3.27 resistance is not surpassed, SUI is more likely to drop further in price.
Low volume ratio signals reduced buying interest
SUI finds critical support near $2.91. If this level gives way, the price could slide toward $2.23. A bounce is possible from this cluster zone, but it will need strong volume confirmation, above $1.76 billion, to support a reversal. For bulls, a clear breakout above $3.27 with sustained buying interest is crucial.
Proceeding carefully is recommended for traders. Weaker demand is indicated by the below average volume ratio of 0.56x. Short positions may look to re-enter between $3.27-$3.38, whereas longs should trigger only after a strong close above $3.15. Overall risk is still moderate, while a 4/10 score in liquidity worsens the risk of swift entries and exits.
Long term growth outlook for SUI despite recent dip
Despite the declining price of SUI, the digital asset’s future prospects remain promising. DigitalCoinPrice, for instance, anticipates SUI will surpass its previous peak by reaching $6.65 by year’s end. However, Changelly takes a more conservative approach, predicting a price between $2.47 and $2.87 by 2025 with a ROI of 158.6%.
The recent partnership between Real Vision and Sui could help bolster the price. Real Vision plans to use SUI’s blockchain to compensate users for their participation with blockchain-verified proof. This illustrates SUI’s practical value and could draw attention from major investors.
Sui’s decentralized finance system is growing as well. The introduction of Bluefin7K, its native aggregator, means that there is additional liquidity and stronger market health. Such updates indicate that Sui has tremendous potential beyond its pricing changes since it constructs beneficial and scalable blockchain solutions.
