SUI crypto took a hit Tuesday after breaking key support levels and triggering a round of technical selling. The token dropped 9.2% to about $2.02 as trading volume spiked and every recovery attempt got rejected.
The recent launch of Momentum (MMT), the main DEX on Sui, gave the network a short boost in activity. Despite the price drop, token volume has been strong; SUI got over $42 billion in volume during October alone.
This month’s already off to a hot start, too, with more than $7 billion in just the first five days of November, showing demand for SUI is still very real.
SUI Crypto Looks Weak, Unless…
SUI just hit its key support zone around $2 and is trying to bounce after a clean flush-out. The chart’s hinting at a possible double-bottom right on that gray zone — usually a sign sellers are backing off and buyers are stepping in.
If that support holds, SUI could start pushing toward $2.19 and then $2.36, setting up a short-term recovery move. The RSI around 52 shows there’s still room to climb without being overheated, and the MACD looks like it’s about to flip positive soon.
If it drops back under $1.95, though, the setup weakens, and another dip could come before any real reversal. For now, it’s an early-stage recovery, still a bit shaky, but with solid upside potential if buyers hold the line.
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Key Takeaways
- SUI’s price is testing key support around $2, hinting at a possible double-bottom and early signs of recovery.
- Despite the dip, coin demand remains strong, with $7B volume in early November and solid buyer interest building.
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