SUI Price Drops Below Key Support as Bears Maintain Control

Sui (SUI) fell 9.64% to $3.0211 on June 13, deepening a sharp overnight correction that briefly pushed the price to $2.9556. The selloff was triggered after the token broke below the $3.20 support level—previously a solid floor—leading to panic selling and stop-loss cascades. More than 50 million tokens were traded during the slide, underscoring intense bearish sentiment.

Although SUI momentarily dipped below the $3.00 psychological threshold, it found short-term support near $2.997. This sparked minor buying activity, allowing the token to stabilize in a tight $3.00–$3.05 range. Still, momentum remains weak. Lower highs are forming, and unless bulls push the price above $3.05 with conviction, the current bounce may be temporary.

The broader crypto market’s volatility, driven in part by U.S. inflation data and a brief Bitcoin price spike earlier in the week, contributed to the turbulence. However, SUI’s current behavior is largely technical. The $3.20 breakdown marked a critical shift in sentiment, and traders now watch key resistance and support levels closely.

Volume surged at 14:00 UTC, with over 1.2 million tokens traded, hinting at cautious accumulation around the $3.00 mark. But until SUI posts a confirmed close above $3.05, the downtrend remains intact. Key resistance is now at $3.05, while support holds at $2.94.

As the market digests recent macro developments, SUI’s short-term price direction will likely hinge on whether buyers can reclaim control above resistance or if bears continue to dominate.