SUI Teeters on the Edge: $3.06 Resistance Threatens to Trigger Selloff

SUI’s price action is flashing red—testing a critical resistance level at $3.06 that could spark a major liquidation cascade. Traders are eyeing the charts like hawks, waiting to see if the token buckles under pressure or pulls off a breakout.

Market sentiment leans bearish as SUI struggles to hold momentum. A rejection here could send it tumbling back toward support levels, while a clean break might lure in sidelined capital—assuming the whales don’t front-run the rally, as they love to do.

Another day, another crypto asset dancing on the knife’s edge between ’generational buy’ and ’bagholder trap.’ Just another Tuesday in digital asset markets.

• Based off the Elliott Wave, a fall below $3.06 in SUI price could trigger a larger drop.
• RSI and MACD suggest the price action is weakening, which is in agreement with the expectations for a downturn.
• If SUI price falls below $3.06, it could lead to further selling, and the lows could extend to $2.72 or $2.00.

SUI price, which is the token that powers the Sui Blockchain, may soon fall if it fails to hold the $3.06 support level. Lower prices are expected because Elliott Wave analysis by More crypto Online indicates a price restriction at $3.38.

Support Exists at $3.06 as SUI Price Continues to Fall

A warning from analysts is that if sui dips below $3.06, it might mark the start of wave (5) as part of a bigger corrective wave (c). From reaching a peak in May, SUI  appears to have been moving through a corrective pattern, as suggested by Elliott Wave. 

Source: X @Morecryptoonl

The main point from the chart is that multiple Fibonacci retracement levels align with the $3.06 support. A drop below $3.05 could lead sui price to the next critical support zone, which is between $2.72 and $2.09.

SUI’s RSI and MACD Signals Have Turned Bearish

Besides price, another measure of SUI price on the daily chart also raises the alarm. RSI stands at 42.33, which is signaling a shift in buying strength toward a bearish momentum. From this, it can be inferred that there’s more downside to come until a reversal occurs. 

Also, the MACD (Moving Average Convergence Divergence) shows a negative crossover because the MACD line is below the signal line, and the histogram bars are red. Thus, it supports the ongoing trend of falling prices.

Source: TradingView

There has also been a consistent decline in both the highs and lows of the price charts, indicating the downtrend. A MOVE above $3.38 during May failed for SUI, showing that selling pressure is higher than buying pressure.

Volume has not changed much so far, and there have been no clear signs yet that a reversal is coming. 

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