SUI Tests Key Support Zone: A Pivotal Moment for Bulls
Sui's price is approaching a historically significant support zone, testing a trendline that has repeatedly sparked rebounds in past market cycles. The asset is currently trading at $1.42, down 5-6% over the last 24 hours, yet it remains aligned with its post-launch upward trajectory.
Technical analysis shows this level coincides with the 0.786 Fibonacci retracement, a threshold that previously preceded strong rallies. Market participants are now weighing two scenarios: either a bounce toward the $2.2-$2.8 range if support holds, or renewed downward pressure should the level break.
Weekly chart patterns show consistent buyer activity at this juncture, evidenced by volume spikes during prior tests of the trendline. The coming days will determine whether Sui's structural foundations remain intact or if broader crypto market fragility prevails.
