SUI Price at Critical Juncture: Will $2.90 Support Hold Amid Bearish Pressure?

SUI is currently facing bearish momentum, trading at $3.03 with a 1.6% decline over the past 24 hours. Technical indicators show weakness as the asset remains below key EMAs ranging from $3.12 to $3.51. The 100-day SMA at $2.95 is now critical support—a breakdown below this level could trigger a drop toward $2.10.

Momentum indicators reinforce the bearish outlook, with MACD and RSI (at 41) signaling potential further downside. Traders are monitoring SUI''s inability to hold support, compounded by an upcoming July 1 unlock of 58 million sui tokens that may increase selling pressure.

Despite short-term bearishness, long-term charts show resilience around the $2.90 level—a zone with Fibonacci support and multiple historical bounces. Market participants are watching for either a breakdown confirming bearish continuation or a bullish reversal from these key support levels.