SUI Tests Critical Support at $1.47 Amid Sustained Downtrend
SUI is facing persistent downward pressure, with its price hovering NEAR the $1.47 level after repeated rejections at higher resistance. The token has established a clear pattern of lower highs and lower lows, signaling sustained selling interest and a bearish market structure.
A tentative bounce from a short-term demand zone offers fragile hope for bulls, but the price action suggests this is more likely a consolidation within a broader downtrend than a meaningful reversal. The 1-hour chart indicates sellers have gained control after breaking below previous consolidation ranges.
Analyst BitGuru notes that aggressive sell-offs between the $1.70-$1.80 range created strong overhead resistance, indicating a market currently dominated by short-term sell orders. While the current bounce may provide temporary relief, the overall technical picture remains bearish, and the key demand zone is under significant test.
