SUI Dips 2% Amid Privacy Upgrade Buzz, Analysts Eye $1.70 Rebound
SUI's price slid 2.04% to $1.43 as trading volume spiked 180% to $823 million, extending its weekly loss to 7.13%. The decline follows a breakdown below the $1.78 RSI trendline, triggering a 23% drop that reset the token's trading range.
Technical analysts note sui now oscillates within a balance zone between value area high and low, with critical support at $1.325. Oversold conditions emerge as RSI nears 36 and stochastic hits 11, suggesting potential for a corrective bounce toward $1.6993 resistance.
The privacy-focused blockchain's market position remains tenuous, with moving averages signaling sustained bearish momentum. Yet repeated tests of the $1.325 support level hint at possible accumulation, setting the stage for a reversal should market sentiment shift.
