SUI Tests Critical Support as On-Chain Strength Battles Technical Headwinds
SUI's price is testing a key support level as traders assess mixed market signals. The token remains one of the most actively traded assets despite a 4.69% pullback to $1.56, with $1.49 billion in daily volume highlighting sustained interest.
On-chain fundamentals paint a bullish picture—the sui Network reported $780 million in 24-hour volume, propelling it into the top four most traded assets. This underlying strength contrasts with technical resistance: the MACD indicates seller control, while oversold RSI levels hint at potential selling exhaustion.
Analysts note a 'yellow scenario' unfolding, where SUI's near-term direction depends on holding current support. The coming days will determine whether its institutional-grade trading volume can overpower chart-based resistance.
