Sui (SUI) is trading near $0.90, after breaking below a key Fibonacci support level, signaling intensifying short-term bearish pressure.
The token recently rejected the $0.98–$1.00 resistance zone before slipping under the 1.0 retracement level at $0.90309, shifting momentum in favor of sellers. Crypto analyst BitGuru noted that SUI is forming a consolidation base following its midterm downtrend.
While consolidation can indicate a temporary balance between buyers and sellers, BitGuru cautions that holding nearby support levels remains critical to preventing further downside. A failure to stabilize could expose the token to lower liquidity zones in the sessions ahead.
Source: BitGuru X Post
If SUI’s consolidation transitions into sustained accumulation, a breakout toward higher liquidity areas may follow. However, the technical structure currently favors bearish continuation unless the price reclaims the $0.924–$0.953 retracement region.
Traders are closely monitoring volume expansion and order book depth to assess whether current levels represent accumulation or continued distribution.
SUI Shows Downward Movement Amid Bearish Pressure
According to TradingView, SUI peaked at a high close to $0.98-$1.00, after which a correction in the price commenced.
Initially, moderate support levels came in at the 0.618 fib level of $0.94166 and the 0.786 level at $0.92466, but falling below the 1.0 level at $0.90309 indicates a rise in selling pressure, as lower highs and lower lows are evident in the price, a classic sign of a bearish trend.
Source: TradingView
Looking forward, the Fibonacci extension levels indicate potential price targets in case of a fall in price. The 1.618 extension target of $0.84079 acts as the next price level that will be an important price support level.
If the selling pressure continues to increase, the price will be supported by 2.618 ($0.73998), 3.618 ($0.63917), and 4.236 ($0.57687). These will be potential reversal points, but there is a need to recover the lost retracement levels to invalidate the bearish outlook.
Momentum Indicators Support Increasing Pressure
The momentum indicators are reflecting the bearish sentiment prevailing in the markets. The Relative Strength Index (RSI) is around 31.78, just above the oversold level at 30.
This indicates that there might be a brief short-term respite, but the overall trend indicates a sell-off in the recent trading sessions. The RSI average for 14 days at around 41.83 indicates a loss of momentum.
Source: TradingView
The assumption made above is supported by the Moving Average Convergence Divergence indicator. The MACD line is currently at -0.01527, which is still below the signal line, which is at -0.00857. Also, the histogram bars are expanding.
This implies that the bears are getting stronger, and there is yet to be a crossover of the MACD line above the signal line.
Also Read: SUI Tests Major Support as Grayscale ETF Launch Boosts Institutional Focus