SUI Builds Consolidation Base Following Downtrend: Breakout Potential in Focus
Sui (SUI) is trading NEAR $0.90 after breaking below a key Fibonacci support level, strengthening short-term bearish momentum. The token was rejected at the $0.98–$1.00 resistance zone before falling below the 1.0 retracement level at $0.90309, shifting market sentiment toward sellers.
Crypto analyst BitGuru notes that sui is forming a consolidation base after its midterm decline. While such patterns often indicate a balance between buyers and sellers, holding nearby support levels is essential to prevent further losses. A breakdown could send the token into lower liquidity zones.
Market participants are closely watching volume trends and order book depth to differentiate between accumulation and distribution. Reclaiming the $0.924–$0.953 retracement area remains critical for reversing the current bearish technical structure.
