SUI Stumbles at $4—Will the $3.17 Support Floor Hold?

Another day, another crypto resistance level playing hard to get.

SUI's latest rally slammed into a brick wall at $4—now traders are sweating over whether the $3.17 support zone can avoid becoming a pancake drop. The usual suspects (macro fears, leverage flushes) are lurking, but this alt's fundamentals might just surprise the doomscroll crowd.

Funny how these 'key levels' always seem to cluster where the whales parked their bids, isn't it?

• SUI trades at $3.80, with 3.25% daily surge and 2.63% weekly decline, with $13.09B market capitalization.
• Open interest dropped 9% to $1.93 billion, while funding rates eased to 0.0083%, showing weaker leveraged demand.
• SUI faces strong resistance at $3.85–$4.07, with downside risks toward $3.17 if support fails.

SUI is struggling under intense market pressure, unable to break through the $4 resistance. Currently trading at $3.80, with 1.77% increase over the last 24 hours and 2.63% decline over the last seven days. It has a capitalization of $13.09 billion, and the volume is falling sharply.

SUI futures open interest is down 9% to $1.93 billion. The decline indicates minimal short-term squeeze possibility. Funding rates have returned to 0.0083% from the July highs, signifying waning Leveraged trading demand. Traders continue to be wary, a sign of short-term indecision and weakness in the crypto exchanges.

SUI Potential Breakdown Targets $3.17 Zone

The Relative Strength Index on the 4-hour chart has dropped to 44, indicating bearish bias. sui currently consolidates around $3.72, aligning with the 61.8% Fibonacci retracement level. This support has historically been important. However, a clean break below could drive selling toward $3.17, testing the 78.6% retracement zone.

For recovery attempts, resistance zones at $3.85 and $4.07 remain critical. Both levels previously hosted strong selling pressure. Analysts highlight that clearing $4.07 decisively could spark bullish momentum, potentially pushing targets toward the $4.75 zone. Until then, resistance continues acting as a ceiling, blocking upward market progress.

Market Analysts Stress Caution for Investors crypto analyst Ali pointed out SUI’s consistent failure in breaking through $4, noting surging selling momentum. Analysts note the failure of the $3.72 support level could trigger a faster downward action towards $3.17. 

If SUI holds $3.72 support, consolidation could follow before fresh resistance retests. Immediate upside attempts WOULD likely aim for $3.85 and $4.07. However, a breakdown below $3.72 could spark stronger selling pressure, exposing $3.17. This level would then become a critical battleground for potential rebound opportunities in near-term trading.