SUI Breaches $2.60 Support as Volume Surges 180% on Technical Sell Pressure
SUI extended its recent losses on Tuesday, sliding 3.4% to $2.53 after breaking below the key $2.60 support zone. The move came amid a dramatic surge in trading activity, signaling likely institutional or algorithmic selling.
According to CoinDesk Analytics, trading volume soared past 25.4 million tokens — roughly 180% above the 24-hour average — with nearly 2.7 million SUI changing hands in a single minute. The sharp spike occurred after the token failed to hold above $2.577, triggering a wave of stop-loss orders and automated sell programs.
Price action throughout the day displayed a clear downtrend, with repeated lower highs and lower lows. Multiple recovery attempts toward $2.60 were rejected, while resistance remained firm near $2.66, reinforcing bearish sentiment across the session.
Notably, the decline came absent any major news or macro catalyst, suggesting the selloff was driven primarily by technical positioning and momentum flows rather than fundamentals. Analysts described the move as “mechanical,” pointing to systematic selling behavior rather than panic-driven liquidation.
Traders now view $2.50 as the next key support level, with resistance levels defined at $2.577 and $2.66. A decisive break below $2.50 could expose downside targets near $2.45, while stabilization above that threshold might encourage short-term bargain hunting.
Broader market weakness added to the pressure, with the CoinDesk CD5 Index slipping 1.67% to $1,978.58, breaching the psychologically important $2,000 level after briefly testing highs near $2,040 earlier in the day.
