The Sui (SUI) cryptocurrency extended its decline, trading near $1.10 with a 24-hour drop of 4.31%. Technical analysis indicates the asset is testing key Fibonacci support levels and risks a further fall toward $1.00 unless it can break above a critical resistance zone between $1.32 and $1.35.
The Sui (SUI) token faced continued selling pressure, trading around $1.10 with a daily decline of 4.31%. Its 24-hour trading volume was $1.43 billion against a market capitalization of $4.22 billion.
A technical analysis provided by More Crypto Online shows SUI testing key Fibonacci support levels as the overall downtrend remains intact. The asset has fallen below its April 2025 lows, indicating relative weakness compared to other major cryptocurrencies.
Analysts believe the current decline could be the fifth wave in a bearish cycle, with no short-term bottom yet established. The primary downside target is seen near the $0.915 support level, in line with extension studies.
On the SUI/USDT chart, the price has broken below a descending trend line and failed to regain its previous consolidation range. This pattern suggests distribution is occurring, with the formation of lower highs.
As long as SUI remains below the $1.32-$1.35 resistance level, the risk of further decline is considered high. A test of the $1.00 psychological support level is also viewed as a possibility.
