SUI Battles Key $3.00 Support as Bearish Pressure Mounts
Sui (SUI) remains under selling pressure, currently trading NEAR $3.20 after a 26% decline from its May 12 peak of $4.29. The $3.00 support level has emerged as critical—a breakdown could spark intensified selling.
Despite price weakness, Sui's DeFi ecosystem demonstrates strength. Total Value Locked (TVL) has recovered to $1.75 billion, marking a 29% increase since April 1. This divergence between price action and network fundamentals indicates sustained confidence in Sui's long-term potential.
Technical indicators remain bearish. sui continues trading below both the 50-day and 100-day EMAs, with multiple sell signals active. Traders are watching for either a decisive break below $3.00 or reversal patterns to determine the next major price movement.
