Macro-Sensitive Angle with Tactical Commentary
SUI Dips Below $3 Before Rebounding Slightly, as Technical Breakdown Triggers Caution
SUI endured a sharp correction on Thursday, falling nearly 13% intraday before rebounding to close just above $3.00. The move followed a technical breakdown below $3.20, a level that had acted as short-term support. Once breached, sell pressure intensified, with more than 50 million tokens exchanging hands in a matter of hours.
The token’s decline—from a high of $3.343 to a low of $2.9556—reflected broader weakness in crypto markets following this week’s U.S. inflation data. However, SUI’s retreat appears primarily technical, with cascading stop orders compounding the sell-off. The psychological $3.00 threshold saw renewed interest, triggering a modest recovery and creating a narrow range between $3.00 and $3.05.
Volume surged at 14:00 UTC, crossing 1.2 million SUI, suggesting early accumulation at support. But traders remain cautious. With lower highs continuing to form, momentum won’t shift unless bulls reclaim the $3.05 resistance level, a key line that now separates rebound from rejection.
